NZD/USD Price Analysis: Bullish flag above 200-HMA challenges sellers


  • NZD/USD fades bounce off intraday low, keeps previous day’s pullback from weekly top.
  • Bullish chart pattern, failures to conquer 200-HMA favor buyers.
  • One-week-old horizontal support adds to the downside filters.

NZD/USD remains directionless, recently easing to 0.7067 ahead of Friday’s European session.

The kiwi pair refreshed weekly top the previous day before stepping back from 0.7094. However, the pullback moves remain above 200-HMA.

With that, the quote portrays a bullish flag on the hourly chart, which in turn signifies 0.7080 as the key upside hurdle.

Following that, the NZD/USD rally towards the mid-month top near 0.7150 can’t be ruled out. However, the latest high near 0.7100 may test the bulls before the run-up.

Meanwhile, the 200-HMA, support line of the stated flag and an area comprising multiple levels marked since September 16, around 0.7060-55, restricts the short-term NZD/USD declines.

Should the quote drops below 0.7050, the 0.7000 threshold may offer an intermediate halt during the fall targeting the monthly low near 0.6980.

NZD/USD: Hourly chart

Trend: Recovery expected

Additional important levels

Overview
Today last price 0.7068
Today Daily Change 0.0000
Today Daily Change % -0.00%
Today daily open 0.7068
 
Trends
Daily SMA20 0.7075
Daily SMA50 0.7012
Daily SMA100 0.7068
Daily SMA200 0.7116
 
Levels
Previous Daily High 0.7094
Previous Daily Low 0.6982
Previous Weekly High 0.7151
Previous Weekly Low 0.7025
Previous Monthly High 0.7089
Previous Monthly Low 0.6805
Daily Fibonacci 38.2% 0.7051
Daily Fibonacci 61.8% 0.7025
Daily Pivot Point S1 0.7002
Daily Pivot Point S2 0.6936
Daily Pivot Point S3 0.6889
Daily Pivot Point R1 0.7114
Daily Pivot Point R2 0.716
Daily Pivot Point R3 0.7226

 

 

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