- NZD/USD remains under selling pressure near the 2020 lows.
- The level to beat for sellers is the 0.6594 support on a daily closing basis.
NZD/USD daily chart
NZD/USD attempted a break above the 0.6614 resistance and is now easing back down below the level. The market is consolidating in a bull flag while trading above the main simple moving averages (SMAs). However, if the sellers come back the bull flag could fail and lead to a drop towards the 0.6566/52 price zone. Further down lie the 0.6525 level. Resistance is seen near 0.6614 and 0.6642 levels, according to the Technical Confluences Indicator.
Additional key levels