NZD/USD Price Analysis: Bulls again struggle to keep gains above 0.67


  • 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). 

4-hour chart

Trend: Pullback likely

Technical levels

NZD/USD

Overview
Today last price 0.6692
Today Daily Change -0.0007
Today Daily Change % -0.10
Today daily open 0.6699
 
Trends
Daily SMA20 0.6597
Daily SMA50 0.6476
Daily SMA100 0.6235
Daily SMA200 0.6356
 
Levels
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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