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

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD retreats below 1.1300 area as NFP-inspired dollar weakness fades

EUR/USD jumped to a daily high of 1.1333 with the initial market reaction to the disappointing November Nonfarm Payrolls data but quickly returned below 1.1300. Rising US Treasury bond yields seem to be helping the dollar stay resilient against its major rivals. 

EUR/USD News

GBP/USDdrops to 1.3250 area as dollar regains strength

GBP/USD spiked above 1.3300 in the early American session with the initial market reaction to the gloomy US November jobs report. However, the greenback regathered strength on hawkish Fed commentary and forced the pair to turn south.

GBP/USD News

Gold struggles to capitalize on weak NFP data, holds near $1,770

Gold spiked to a daily high near $1,780 with the initial market reaction to the disappointing Nonfarm Payrolls data from the US but seems to be having a difficult time preserving its bullish momentum with the 10-year US T-bond yield staying resilient.

Gold News

The bull and the bear case for BTC

Bitcoin price saw a bullish impulse that faced massive headwinds before it tagged a crucial psychological barrier. Bitcoin is likely to experience massive volatility as the situation resolves over time. 

Read more

Cyber Monday 2021 Discounts!

Glued to your trading screen on Cyber Monday? Upgrade your skills by signing up for FXStreet’s Premium service, offered at a discount of up to 50%. Fellow traders have already taken advantage of Black Friday profits. What about you? 

Subscribe now!

Forex MAJORS

Cryptocurrencies

Signatures