Home›Forex›Major Pairs›NZD/USD stays below 200-day as bears eye 0.5700

NZD/USD stays below 200-day as bears eye 0.5700

The pair trades around 0.5754 and must break below 0.5700 to open a path toward the July 8 low at 0.5672, while resistance sits near 0.5794-0.5800.

Reported · Written up by our desk · Major Pairs

The New Zealand dollar retreated in Monday’s North American session, with NZD/USD down 0.12% to about 0.5754 after the US dollar strengthened against most G8 currencies, according to FXStreet. The move came alongside rising geopolitical tensions and hawkish comments from a Fed governor.

FXStreet said the Kiwi remains downwardly biased, trading below its 200-day simple moving average at 0.5819 for the 25th consecutive session. The report added that, based on RSI, buyers are not fully absent, suggesting consolidation even as the broader tone stays bearish.

For further downside, FXStreet noted that a drop below the 0.5700 psychological level is needed, after which the next reference points are the July 8 low at 0.5672 and then 0.5650. It also flagged 0.5600 as the next milestone if those levels give way.

On the upside, the first resistance is the July 10 daily high at 0.5794, followed by 0.5800, with additional resistance clustered around the 50-day and 200-day moving averages near 0.5812 to 0.5819. Beyond that, FXStreet cited the 100-day SMA around 0.5835 and the 0.5850 area.

More like this

Sources