NZD/USD Price Analysis: Bounces from key MA support

NZD/USD has bounced up from the 50-hour average support.
The hourly chart MA studies and the daily chart RSI are biased bullish.

Omkar Godbole FXStreet Contributor

NZD/USD defended the ascending or bullish 50-hour moving average (MA) three hours ago and is now trading at 0.6450, representing a 0.20 percent drop on the day.

The major hour chart MAs are aligning in favor of the bulls. The 50-hour MA has crossed above the 100-hour MA and appears on track to rise above the 200-hour MA. That would confirm a golden cross on the hourly chart.

Further, the 14-day relative strength index (RSI) has violated the descending trendline – a sign the bearish trend from the high of 0.6733 observed in early January.

All in all, the immediate bias is bearish and the pair could rise to the 200-day average at 0.6497.

Daily chart

Trend: Bullish

Technical levels

NZD/USD

Overview
Today last price	0.6451
Today Daily Change	-0.0013
Today Daily Change %	-0.20
Today daily open	0.6464

Trends
Daily SMA20	0.6518
Daily SMA50	0.6584
Daily SMA100	0.6477
Daily SMA200	0.6501

Levels
Previous Daily High	0.6488
Previous Daily Low	0.6398
Previous Weekly High	0.6504
Previous Weekly Low	0.6397
Previous Monthly High	0.6741
Previous Monthly Low	0.6453
Daily Fibonacci 38.2%	0.6454
Daily Fibonacci 61.8%	0.6432
Daily Pivot Point S1	0.6412
Daily Pivot Point S2	0.636
Daily Pivot Point S3	0.6322
Daily Pivot Point R1	0.6502
Daily Pivot Point R2	0.654
Daily Pivot Point R3	0.6592

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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