NZD/USD Technical Analysis: Bounce off bullish 20-day MA, but the falling channel still intact
|The ascending 20-day moving average (MA) put a floor under the kiwi dollar yesterday, the outlook, however, would turn bullish only if the pair manages to clear the falling channel hurdle, currently at 0.6815.
4-hour chart
- As seen above, the NZD/USD is trapped in a descending channel for a 12th straight day. A bull breakout, if confirmed, would signal a continuation of the rally from the Nov. 1 low of 0.6514 and could yield a break above the recent high of 0.6883.
Daily chart
- Over on the daily chart, the pair has bounced off nicely from the ascending (bullish) 20-day MA. The prospects of falling channel breakout, however, would weaken sharply if the spot finds acceptance below the 20-day MA, currently at 0.6767.
Trend: Bullish after channel breakout
NZD/USD
Overview:
Today Last Price: 0.6795
Today Daily change: 3.0 pips
Today Daily change %: 0.0442%
Today Daily Open: 0.6792
Trends:
Previous Daily SMA20: 0.6752
Previous Daily SMA50: 0.6636
Previous Daily SMA100: 0.6658
Previous Daily SMA200: 0.6874
Levels:
Previous Daily High: 0.6811
Previous Daily Low: 0.6753
Previous Weekly High: 0.6876
Previous Weekly Low: 0.6767
Previous Monthly High: 0.663
Previous Monthly Low: 0.6424
Previous Daily Fibonacci 38.2%: 0.6789
Previous Daily Fibonacci 61.8%: 0.6775
Previous Daily Pivot Point S1: 0.676
Previous Daily Pivot Point S2: 0.6727
Previous Daily Pivot Point S3: 0.6702
Previous Daily Pivot Point R1: 0.6818
Previous Daily Pivot Point R2: 0.6843
Previous Daily Pivot Point R3: 0.6876
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.