NZD/USD Price Analysis: 0.6655/60 remains as the key resistance after China data


  • 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

Overview
Today last price 0.6641
Today Daily Change 1 pip
Today Daily Change % 0.02%
Today daily open 0.664
 
Trends
Daily SMA20 0.6657
Daily SMA50 0.6548
Daily SMA100 0.6446
Daily SMA200 0.6516
 
Levels
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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