NZD/USD Price Analysis: Battles key resistance lines around 0.6650

NZD/USD struggles between monthly and three-week-old descending trend lines.
Bullish cross of the MACD line, sustained trading above 10-DMA favor buyers.
Early January lows, 50-DMA could lure bulls, weekly horizontal support limit pullback moves.

Anil Panchal FXStreet

NZD/USD bulls fail to cheer the one-month-old trend line breakout near 0.6650 during the third positive day amid Wednesday’s Asian session.

Although bullish MACD signals and clear trading beyond the 10-DMA keeps NZD/USD buyers hopeful, a sustained run-up beyond the descending trend line from January 18, around 0.6655, becomes necessary to justify the recent breakout of the monthly resistance line.

Following that, early January month’s low and 50-DMA, respectively near 0.6735 and 0.6750, will be in focus.

Alternatively, pullback moves remain elusive beyond the resistance-turned-support line near 0.6645.

Also restricting short-term NZD/USD declines is the 10-DMA and one-week-long horizontal area, around 0.6615 and 0.6605, in that order.

To sum up, NZD/USD grinds higher amid a quiet Asian session, with buyers having an upper hand.

NZD/USD: Daily chart

Trend: Further upside expected

Additional important levels

Overview
Today last price	0.6649
Today Daily Change	0.0003
Today Daily Change %	0.05%
Today daily open	0.6646

Trends
Daily SMA20	0.6695
Daily SMA50	0.6751
Daily SMA100	0.6889
Daily SMA200	0.698

Levels
Previous Daily High	0.6655
Previous Daily Low	0.6615
Previous Weekly High	0.6684
Previous Weekly Low	0.654
Previous Monthly High	0.6891
Previous Monthly Low	0.6529
Daily Fibonacci 38.2%	0.664
Daily Fibonacci 61.8%	0.663
Daily Pivot Point S1	0.6623
Daily Pivot Point S2	0.6599
Daily Pivot Point S3	0.6583
Daily Pivot Point R1	0.6662
Daily Pivot Point R2	0.6679
Daily Pivot Point R3	0.6702

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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