- NZD/USD faces rejection at six-month high of 0.6707.
- Daily RSI shows bearish divergence and scope for a pullback.
NZD/USD pair is currently trading in the red near 0.6688, having hit a six-month high of 0.6707 early Friday.
The pair has faced rejection above 0.67 for the second time this week. The bulls hit a wall just above 0.67 on Monday.
That, alongside 14-day relative strength index's (RSI) bearish divergence, suggests ebbing of bullish momentum. A bearish divergence occurs when the RSI prints lower highs as opposed to higher highs on price and often precedes price pullbacks.
As such, a pullback could be seen during the day ahead. Support is seen at 0.6655 (10-day SMA) and 0.6614 (July 24 low).
On the flip side, acceptance above 0.67 could yield additional gains toward 0.6733 (December 2019 high).
Trend: Pullback likely
|Today last price||0.6692|
|Today Daily Change||-0.0007|
|Today Daily Change %||-0.10|
|Today daily open||0.6699|
|Previous Daily High||0.6703|
|Previous Daily Low||0.6619|
|Previous Weekly High||0.6691|
|Previous Weekly Low||0.6538|
|Previous Monthly High||0.6585|
|Previous Monthly Low||0.6186|
|Daily Fibonacci 38.2%||0.6671|
|Daily Fibonacci 61.8%||0.6651|
|Daily Pivot Point S1||0.6644|
|Daily Pivot Point S2||0.659|
|Daily Pivot Point S3||0.656|
|Daily Pivot Point R1||0.6728|
|Daily Pivot Point R2||0.6758|
|Daily Pivot Point R3||0.6812|
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