This is a dramatic contrast to Friday’s selling pressure, which saw the New Zealand dollar fall to its lowest level in three months versus the U.S. dollar. Trading in New Zealand’s currency has calmed down since the Omicron coronavirus variety was discovered last week. Markets are likely to see a significant increase in trading activity as the big banks and institutions return to the markets after last week’s long holiday weekend. Despite this, traders should still anticipate a high degree of uncertainty regarding the new strain.
The support rests at 0.68260 with resistance at 0.70530. The Pivot Point is at 0.68310 which the price is moving below it. The EMA of 10 is moving with the bearish bias in the descendant channel and it moves below the EMA of 200 and 100. The RSI is moving at the level of 30, the MACD histogram is in negative territory with a buy signal. The Stochastic is moving in high ranges. The ADX is showing a downtrend.
The price is below the Ichimoku Cloud and the Chinkou Span is far away from the market price. The Tenkan-sen and the Kijun-sen are both showing a downward momentum.

• There is resistance at 0.68380, followed by resistance at 0.68430 and 0.68500.
• There is support at 0.68260 Below, there is 0.68190 and 0.68140.

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.