- NZD/USD registers three-day winning-streak following a bounce off 38.2% Fibonacci retracement level.
- The downside break of 200-day SMA will negate the chances of pair’s upside.
NZD/USD stays mildly bid near 0.6645 while heading into the European session on Friday. The pair recovered from 38.2% Fibonacci retracement of its November-December 2019 upside. Though, a confluence of 21-day SMA and 23.6% Fibonacci retracement restrict the pair’s upside off-late.
With this, bearish MACD gains the market’s attention if prices slip below 38.2% Fibonacci retracement of 0.6590. As a result, December 18 low near 0.6550 could be sellers' favorite ahead of confronting a 200-day SMA level of 0.6515.
Meanwhile, pair’s rise beyond the 0.6655/60 confluence could push it towards 0.6700 and then to December 2019 top surrounding 0.6760.
In a case where the bulls dominate past 0.6760, July 2019 high around 0.6795 could be in focus. Alternatively, the NZD/USD price drop below 0.6515 can recall early-November peak near 0.6465.
NZD/USD daily chart
Trend: Pullback expected
Additional important levels
|Today last price||0.6641|
|Today Daily Change||1 pip|
|Today Daily Change %||0.02%|
|Today daily open||0.664|
|Previous Daily High||0.6666|
|Previous Daily Low||0.661|
|Previous Weekly High||0.6681|
|Previous Weekly Low||0.6599|
|Previous Monthly High||0.6756|
|Previous Monthly Low||0.6424|
|Daily Fibonacci 38.2%||0.6645|
|Daily Fibonacci 61.8%||0.6631|
|Daily Pivot Point S1||0.6611|
|Daily Pivot Point S2||0.6583|
|Daily Pivot Point S3||0.6555|
|Daily Pivot Point R1||0.6667|
|Daily Pivot Point R2||0.6695|
|Daily Pivot Point R3||0.6723|
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