NZD/USD Asia Price Forecast: Kiwi ready for a larger retracement up

NZD/USD is bouncing from 2020 lows.
The level to beat for bulls is the 0.6360 resistance.

NZD/USD daily chart

Kiwi/Dollar is trading in a downtrend while bouncing modestly from the 2020 lows as the market is below the main SMAs. However, the USD weakness can lead to some profit-taking and help the currency pair to bounce some more particularly on a break above the 0.6360 level which could lead to further appreciation towards the 0.6380 and 0.6412 level. Support is seen 0.6300 and 0.6250 level.

Additional key levels

Feb 24, 2020

Fed's Mester says she does not 'at this time' support cutting interest rates to spur a faster return of inflation to 2% goal

Fed's Mester repeats that US monetary policy is 'well calibrated'. Mester says there are risks to the u.s. outlook, including impact of coronavirus ou

NZD/USD Asia Price Forecast: Kiwi ready for a larger retracement up

NZD/USD daily chart

Additional key levels

Fed's Mester says she does not 'at this time' support cutting interest rates to spur a faster return of inflation to 2% goal

South Korea Consumer Sentiment Index below forecasts (112.2) in February: Actual (96.9)