NZD/USD Price Analysis: Eyes further losses towards 0.7100

NZD/USD trims early Asian session losses however stays under the key Fibonacci retracement level.
Bearish MACD, screw ups to go 21-day SMA, preceding guide line choose sellers.
100-day SMA, two-month-old horizontal vicinity trap kiwi bears, 0.7310 provides to the upside filters.
NZD/USD consolidates latest losses whilst retaining the bounce-off intraday low of 0.7138 to 0.7154, down 0.15% on a day, at some stage in early Monday. Even so, the kiwi pair stays under 61.8% Fibonacci retracement degree of December 2020 to February 2021 upside.

Additionally, the pair’s sustained pullback from 21-day SMA and a support-turned-resistance line from January additionally painting the NZD/USD weak point amid bearish MACD.

As a result, temporary dealers hold a 100-day SMA stage of 0.7120 on their radars until the quote stays beneath the cited key Fibonacci retracement hurdle surrounding 0.7180.

However, any in addition draw back past-0.7120 will have a bumpy street as the 0.7100 round-figure and a horizontal place comprising lows marked seeing that late-January, round 0.7100-0.7090, will be hard helps to smash for NZD/USD sellers.

On the contrary, an upside ruin of 0.7180 wishes to pass a convergence of 21-day SMA and 50% Fibonacci retracement close to 0.7235 earlier than eyeing in addition positive factors in the direction of the preceding resistance line, at 0.7275 now.


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