NZD/USD Price Analysis: Approaches three-week-old resistance near 0.6850

NZD/USD extends the previous day’s upside momentum, refreshes intraday high.
Bullish MACD signals, successful trading above 21-DMA keep buyers hopeful.
Three-month-old horizontal area, 50-DMA add to the upside filters.

Anil Panchal FXStreet

NZD/USD takes the bids to refresh intraday high near 0.6845, up 0.20% on a day during Thursday’s Asian session.

The kiwi pair jumped the most in over a week the previous day while bouncing off 21-DMA. Additionally, bullish MACD signals and firmer RSI to keep NZD/USD buyers hopeful to revisit a three-week-old resistance line near 0.6850.

However, the kiwi pair’s further advances past 0.6850 will be challenged by a horizontal line near 0.6860 comprising September low and tops marked during late November.

In a case where the quote crosses the 0.6860 hurdle, the 0.6900 round figure and the 50-DMA level surrounding 0.6940 will lure the bulls.

Alternatively, a clear downside break of the 21-DMA level of 0.6788 will have multiple supports around 0.6735, portrayed by a short-term horizontal line, a break of which will direct NZD/USD bears towards the yearly low of 0.6701.

NZD/USD: Daily chart

Trend: Further upside expected

Additional important levels

Overview
Today last price	0.684
Today Daily Change	0.0012
Today Daily Change %	0.18%
Today daily open	0.6828

Trends
Daily SMA20	0.6786
Daily SMA50	0.6939
Daily SMA100	0.6976
Daily SMA200	0.7035

Levels
Previous Daily High	0.6843
Previous Daily Low	0.6788
Previous Weekly High	0.6891
Previous Weekly Low	0.6702
Previous Monthly High	0.7199
Previous Monthly Low	0.6773
Daily Fibonacci 38.2%	0.6822
Daily Fibonacci 61.8%	0.6809
Daily Pivot Point S1	0.6796
Daily Pivot Point S2	0.6765
Daily Pivot Point S3	0.6741
Daily Pivot Point R1	0.6851
Daily Pivot Point R2	0.6875
Daily Pivot Point R3	0.6906

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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