Home NZD/USD Price Analysis: Kiwi sidelined near 2020 lows, trades below 0.6350 level

NZD/USD Price Analysis: Kiwi sidelined near 2020 lows, trades below 0.6350 level

Updated: 25 Feb. 2020 | 19:47

NZD/USD is consolidating losses near the 2020 lows.
The level to beat for buyers is the 0.6360 resistance.

NZD/USD daily chart

Kiwi/Dollar is trading in a bear trend while rebounding modestly from the 2020 lows as the spot is below the main SMAs. However, USD weakness could lead to profit-taking and help the kiwi to rebound especially on a break above the 0.6360 level which could lead to a potential advance towards the 0.6380 and 0.6412 levels. Support is seen near the 0.6300 figure and the 0.6250 level.

Additional key levels

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.

View all posts by FX Street

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision. The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.