NZDUSD Technical Analysis – 28th JAN, 2026
NZDUSD – On 28th January 2026, NZD/USD slipped to a low of 0.6008
NZD/USD Technical Analysis – 28th January 2026
On 28th January 2026, NZD/USD slipped to a low of 0.6008, a level that underscored the pair’s corrective pressure while simultaneously highlighting the presence of defensive bids near the 0.6010 psychological threshold. The candle structure was broad ranged with a pronounced lower wick, reflecting how sellers initially pressed momentum but were met with firm demand as buyers stepped in to absorb supply. This rejection suggested that while the broader trend remained constructive, short term exhaustion was beginning to emerge at this support zone.
On the daily chart, the short term structure showed resilience. The 20 day moving average hovered near 0.5985, cushioning the downside and acting as immediate support. The 50 day average, positioned around 0.5910, was sloping gently upward, reinforcing medium term bullish undertones. The 200 day average at 0.5700 confirmed that the longer term framework remained constructive, with the broader trend still favoring buyers despite the corrective dip. Momentum readings reflected caution: RSI values hovered near 44, leaning toward neutral to bearish territory, while MACD lines were marginally negative but beginning to flatten, suggesting that downside strength was losing intensity.
Intraday dynamics on the four hour chart revealed stretched conditions. Stochastic oscillators dipped into the low 30s, flashing oversold signals. Price stalled as buyers defended the 0.6005–0.6015 band, while resistance was layered at 0.6050 and 0.6110. Volatility compressed into a narrowing corridor, often a precursor to breakout attempts, but the balance of flows suggested hesitation rather than conviction.
The weekly perspective provided broader context. Since the October 2025 trough near 0.5520, NZD/USD has carved a rising channel, with successive higher lows confirming the resilience of the bullish framework. Average True Range readings around 0.0065 reflected controlled but directional swings. Fibonacci retracement mapping from the July 2025 peak at 0.6700 to the October low at 0.5520 highlighted key checkpoints: 38.2% at 0.5965, 50% at 0.6110, and 61.8% at 0.6255. The 0.6008 low aligned closely with the midpoint between the 38.2% and 50% retracement zones, underscoring its importance as a support area where buyers were expected to regroup.
Sentiment at this juncture was shaped by the tension between short term corrective pressure and longer term bullish conviction. Institutional flows appeared to accumulate near retracement support, while retail positioning remained cautious given the proximity to stretched oscillator readings. The ability of the pair to sustain above 0.6005 was critical, as holding this level would preserve the bullish narrative and invite renewed buying interest.
Looking forward, continuation of the recovery requires a clean break above 0.6050, which would open the path toward 0.6110 and eventually 0.6255, aligning with Fibonacci retracement checkpoints and prior swing highs. Conversely, a slip back below 0.6005 would expose the pair to corrective pressure toward 0.5965 and 0.5865, levels that coincide with retracement support and medium term averages. Until a decisive breakout occurs, range bound trading between 0.6005 and 0.6050 is likely to dominate, offering tactical opportunities for short term traders while the broader uptrend remains intact.
In summary, NZD/USD’s dip to 0.6008 on 28th January 2026 was less a breakdown and more a reaffirmation of structural support. The interplay of moving averages, Fibonacci retracement, and momentum signals pointed to a market pausing at a critical juncture, with buyers defending demand and sellers awaiting confirmation for the next directional move.
#fxopen #forex #forexanalysis
Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.
For in-depth analysis, please check ...
NZDUSD – On 28th January 2026, NZD/USD slipped to a low of 0.6008
NZD/USD Technical Analysis – 28th January 2026
On 28th January 2026, NZD/USD slipped to a low of 0.6008, a level that underscored the pair’s corrective pressure while simultaneously highlighting the presence of defensive bids near the 0.6010 psychological threshold. The candle structure was broad ranged with a pronounced lower wick, reflecting how sellers initially pressed momentum but were met with firm demand as buyers stepped in to absorb supply. This rejection suggested that while the broader trend remained constructive, short term exhaustion was beginning to emerge at this support zone.
On the daily chart, the short term structure showed resilience. The 20 day moving average hovered near 0.5985, cushioning the downside and acting as immediate support. The 50 day average, positioned around 0.5910, was sloping gently upward, reinforcing medium term bullish undertones. The 200 day average at 0.5700 confirmed that the longer term framework remained constructive, with the broader trend still favoring buyers despite the corrective dip. Momentum readings reflected caution: RSI values hovered near 44, leaning toward neutral to bearish territory, while MACD lines were marginally negative but beginning to flatten, suggesting that downside strength was losing intensity.
Intraday dynamics on the four hour chart revealed stretched conditions. Stochastic oscillators dipped into the low 30s, flashing oversold signals. Price stalled as buyers defended the 0.6005–0.6015 band, while resistance was layered at 0.6050 and 0.6110. Volatility compressed into a narrowing corridor, often a precursor to breakout attempts, but the balance of flows suggested hesitation rather than conviction.
The weekly perspective provided broader context. Since the October 2025 trough near 0.5520, NZD/USD has carved a rising channel, with successive higher lows confirming the resilience of the bullish framework. Average True Range readings around 0.0065 reflected controlled but directional swings. Fibonacci retracement mapping from the July 2025 peak at 0.6700 to the October low at 0.5520 highlighted key checkpoints: 38.2% at 0.5965, 50% at 0.6110, and 61.8% at 0.6255. The 0.6008 low aligned closely with the midpoint between the 38.2% and 50% retracement zones, underscoring its importance as a support area where buyers were expected to regroup.
Sentiment at this juncture was shaped by the tension between short term corrective pressure and longer term bullish conviction. Institutional flows appeared to accumulate near retracement support, while retail positioning remained cautious given the proximity to stretched oscillator readings. The ability of the pair to sustain above 0.6005 was critical, as holding this level would preserve the bullish narrative and invite renewed buying interest.
Looking forward, continuation of the recovery requires a clean break above 0.6050, which would open the path toward 0.6110 and eventually 0.6255, aligning with Fibonacci retracement checkpoints and prior swing highs. Conversely, a slip back below 0.6005 would expose the pair to corrective pressure toward 0.5965 and 0.5865, levels that coincide with retracement support and medium term averages. Until a decisive breakout occurs, range bound trading between 0.6005 and 0.6050 is likely to dominate, offering tactical opportunities for short term traders while the broader uptrend remains intact.
In summary, NZD/USD’s dip to 0.6008 on 28th January 2026 was less a breakdown and more a reaffirmation of structural support. The interplay of moving averages, Fibonacci retracement, and momentum signals pointed to a market pausing at a critical juncture, with buyers defending demand and sellers awaiting confirmation for the next directional move.
#fxopen #forex #forexanalysis
Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.
For in-depth analysis, please check ...
