NZD/USD retreats from a two-month high of 0.6140, trading around 0.6110 during the European session on Thursday.
NZD/USD pulls back from a two-month high of 0.6140 marked on Thursday. Technical analysis suggests a confirmation of the bullish trend for the pair. The pair could find the key resistance at the major level of 0.6150. The pair depreciates due to an upward correction in the US Dollar , which could be attributed to the improved US Treasury yields. As per the technical analysis , the momentum indicator Moving Average Convergence Divergence suggests an upward trend for the NZD/USD pair.
6200, followed by March’s high at 0.6218. On the downside, the psychological level of 0.6100 could act as the immediate support, followed by the 23.6% Fibonacci retracement level of 0.6081, plotting within coordinates of 0.5886 and 0.6141. A break below the latter could prompt the NZD/USD pair to navigate the region around the 14-day Exponential Moving Average at 0.6026. NZD/USD: Daily Chart NZD/USD Overview Today last price 0.6111 Today Daily Change -0.0011 Today Daily Change % -0.
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