NZD/USD Reaches Crucial Support at level 0.6545 as Uptrend Resumption Is Imminent

NZD/USD Reaches Crucial Support at level 0.6545 as Uptrend Resumption Is Imminent

Key Resistance Levels: 0.6600, 0.6800, 0.7000
Key Support Levels: 0.6200, 0.6000, 0.5800

NZD/USD Price Long-term Trend: Bearish
NZD/USD resumes upward move but faces resistance at level 0.6800. Buyers are resuming a fresh uptrend at the 0.6545 support level. The pair will move up to retest the 0.67000 price level.

NZD/USD – Daily Chart

Daily Chart Indicators Reading:
The Kiwi has risen to level 46 of the Relative Strength Index period 14. It indicates that the pair is now in the downtrend zone. The 50-day SMA and 21-day SMA are sloping upward indicating the uptrend.

NZD/USD Medium-term Trend: Bearish
On the 4-hour chart, the NZD/USD pair is in an uptrend. A retraced candle body tested the 78.6%% Fibonacci retracement. The Kiwi will fall and reach a low of 1.272 Fibonacci extension level. That is level 0.6545.

NZD/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The 50-day and 21-day SMAs are sloping upward. It indicates that the uptrend. The pair is above 25% range of the daily stochastic. It indicates that the market is in a bullish momentum.

General Outlook for NZD/USD
The NZD/USD pair is currently falling. However, the overall trend is uptrend. The uptrend will commence when price reaches the low of level 0.6545. According to the Fibonacci tool, the market will fall to level 1.272 Fibonacci extension level or 0.6545 low before upward resumption.


Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

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