Bulls failed to capitalize on the post-RBNZ upsurge to over one-week tops. Subsequent weakness might turn the pair vulnerable to retest 0.6300 mark. The NZD/USD pair failed to capitalize on the previous session’s post-RBNZ upsurge to over one-week tops and started retreating from a resistance marked by 61.8% Fibonacci level of the 0.6466-0.6322 recent downfall. The intraday downfall has now dragged the pair to fresh session lows, around the 0.6375 confluence support, comprising of 200-hour SMA and 38.2% Fibo. level, which should act as a key pivotal point for short-term traders. Meanwhile, technical indicators on hourly charts have been drifting lower in the bearish territory and lost positive momentum on the daily chart, shifting the near-term outlook back in favour of bearish traders. Some follow-through selling below the mentioned confluence support will reinforce the negative bias and accelerate the slide back towards mid-0.6300s en-route weekly lows support near the 0.6325 region. On the flip side, the 0.6400 handle, coinciding with 50% Fibo. level now seems to act as an immediate resistance, above which the stage seems set for a move towards challenging the 0.6440-50 heavy supply zone. NZD/USD 1-hourly chart FX Street 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 Post By FX Street FXStreet News share Read Next Dow Jones Index News: stocks struggle for direction near 27,800, Powell eyed FX Street 3 years Bulls failed to capitalize on the post-RBNZ upsurge to over one-week tops. Subsequent weakness might turn the pair vulnerable to retest 0.6300 mark. The NZD/USD pair failed to capitalize on the previous session's post-RBNZ upsurge to over one-week tops and started retreating from a resistance marked by 61.8% Fibonacci level of the 0.6466-0.6322 recent downfall. The intraday downfall has now dragged the pair to fresh session lows, around the 0.6375 confluence support, comprising of 200-hour SMA and 38.2% Fibo. level, which should act as a key pivotal point for short-term traders. Meanwhile, technical indicators on hourly charts have… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
