- The NZD/USD pair cleared the 200-day MA resistance on Friday.
- Benign US inflation data released on Friday reaffirmed dovish Fed expectations.
- A drop in China's trade surplus with the US could put a strong bid under the NZD.
The NZD/USD has cleared the 200-day moving average (DMA) hurdle ahead of the China trade data release.
Notably, the currency pair saw its first daily close above the long-term MA for four weeks on Friday, as the sharp gains in the offshore Chinese yuan (CNH) triggered a broad-based sell-off in the USD.
The bullish breakout has shifted focus to the next resistance lined up at 0.6880 (Dec. 12 high). That level could be put to test later today if China trade data shows a drop in surplus with the world's largest economy. Moreover, that would allay trade war fears.
NZD/USD Technical Levels
Today Last Price: 0.6825
Today Daily change: -5.0 pips
Today Daily change %: -0.0732%
Today Daily Open: 0.683
Previous Daily SMA20: 0.6747
Previous Daily SMA50: 0.679
Previous Daily SMA100: 0.6683
Previous Daily SMA200: 0.6796
Previous Daily High: 0.6845
Previous Daily Low: 0.6777
Previous Weekly High: 0.6845
Previous Weekly Low: 0.6707
Previous Monthly High: 0.697
Previous Monthly Low: 0.6686
Previous Daily Fibonacci 38.2%: 0.6819
Previous Daily Fibonacci 61.8%: 0.6803
Previous Daily Pivot Point S1: 0.679
Previous Daily Pivot Point S2: 0.6749
Previous Daily Pivot Point S3: 0.6722
Previous Daily Pivot Point R1: 0.6858
Previous Daily Pivot Point R2: 0.6885
Previous Daily Pivot Point R3: 0.6926
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