NZD/USD Technical Analysis: Key bearish MA crossover seen in hourly chart
|- The 50-hour and 200-hour moving average crossover indicates the path of least resistance is on the downside.
- The bearish intraday MA studies add credence to the argument the corrective rally ended at 0.6859 and the pair is heading back to the recent low of 0.6688.
Hourly chart
Spot Rate: 0.6780
Daily High: 0.6787
Daily Low: 0.6764
Trend: Bearish
R1: 0.6784 (10-day moving average)
R2: 0.6859 (July 9 high)
R3: 0.6906 (50-day moving average)
Support
S1: 0.6748 (previous day's low)
S2: 0.6688 (July 3 low)
S3: 0.6518 (76.4% Fib R of 2015 low - 2017 high)
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