NZD/USD technical analysis: Kiwi is under pressure near 0.6500 figure ahead of NZ Retail Sales

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  • The New Zealand Retail Sales for the first quarter (QoQ) will be published at 22:45 GMT this Tuesday. 
  • A worse-than-expected reading can keep the pressure on the NZD/USD currency pair.

NZD/USD daily chart

NZD/USD is trading in a steep bear trend below the 0.6600 handle and its main simple moving averages (SMAs). The market is reaching levels not seen since November 2018.

NZD/USD 4-hour chart

NZD/USD is trading below its main SMAs suggesting a bearish bias in the medium term.

NZD/USD 30-minute chart

NZD/USD is trading in a bear trend below its main SMAs. A break below 0.6500 figure can open the gates to 0.6480 and 0.6450 level. On the way up, resistance is expected at 0.6520 and 0.6547 level. 

Additional key levels

 

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