NZD/USD Price Analysis: Sellers look for entry below 0.6080/75 support confluence

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NZD/USD again attempts recovery towards 0.6100 while bouncing off 0.6083 during Monday’s Asian session. Even so, the pair stays below 100-day EMA after the recent two-day losing streak.

While the pair’s repeated failures to break 100-day EMA keeps the sellers hopeful, a clear downside below 0.6080/75 support confluence, comprising 50-day EMA and 61.8% Fibonacci retracement of March month fall, becomes the key for fresh entry.

If at all the NZD/USD prices slip below 0.6075, 0.6000 could gain the bears’ attention ahead of the monthly low near 0.5920.

Alternatively, an upside clearance of a 100-day EMA level of 0.6170 could propel the quote towards April month high nearing 0.6175/80.

NZD/USD daily chart

https://editorial.fxstreet.com/miscelaneous/NZDUSD_25052020-637259691537455994.png

Trend: Sideways

Additional important levels

Overview
Today last price0.6099
Today Daily Change2 pips
Today Daily Change %0.03%
Today daily open0.6097

 

Trends
Daily SMA200.6066
Daily SMA500.5995
Daily SMA1000.622
Daily SMA2000.6321

 

Levels
Previous Daily High0.6131
Previous Daily Low0.608
Previous Weekly High0.6159
Previous Weekly Low0.5927
Previous Monthly High0.6176
Previous Monthly Low0.5843
Daily Fibonacci 38.2%0.6099
Daily Fibonacci 61.8%0.6112
Daily Pivot Point S10.6074
Daily Pivot Point S20.6052
Daily Pivot Point S30.6023
Daily Pivot Point R10.6125
Daily Pivot Point R20.6154
Daily Pivot Point R30.6176