NZD/USD Price Analysis: Kiwi trading in a bull flag below 0.6614 resistance

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

Jan 24, 2020

EUR/USD slumps to seven-week lows near 1.1020

The broad-based USD strength in the second half of the day caused the EUR/USD pair to slump to its lowest level since early December at 1.1023. As of

Canadian retail sales ticked up in November – RBC

Commenting on the Canadian Retail Sales data that was published on Friday, "the tick up in Canadian retail sales in November breaks a string of genera