NZD/USD Price Analysis: Bulls attempt to break 200-DMA

NZD/USD remains poised to end the week higher.
Additional gains for the pair if the price decisively breaks 200-DMA.
Momentum oscillator holds onto the oversold zone with a positive bias.

Rekha Chauhan Independent Analyst

NZD/USD edges higher on the last trading day of the week in the initial European trading hour. The pair opened lower but swiftly recovered to touch an intraday high of 0.7120.

At the time of writing, NZD/USD is trading at 0.7118, up 0.09% for the day.

NZD/USD daily chart

On the daily chart, the NZD/USD pair has recovered from the low of 0.6805 made on August 20 to traveled back to the high of 0.7120 in today’s session.

Furthermore, if NZD/USD bulls have been trading above the 200-DMA while keeping their eye on the 0.7150 horizontal resistance level.

The Moving Average Convergence Divergence (MACD) indicator trades in an oversold zone. Any uptick in the MACD could trigger more buying opportunities in the pair to reach the 0.7200 psychological level.

Next, the bulls would be moving in a fresh upside momentum to recapture the high of June 3 at 0.7242.

Alternatively, if price starts moving lower, it could test the 0.7080 horizontal support level followed by the low of September 1 at 0.7032.

NZD/USD bears would next target the 0.6995 horizontal support level.

NZD/USD additional levels

NZD/USD

Overview
Today last price	0.7117
Today Daily Change	0.0006
Today Daily Change %	0.08
Today daily open	0.7111

Trends
Daily SMA20	0.698
Daily SMA50	0.6987
Daily SMA100	0.7085
Daily SMA200	0.7115

Levels
Previous Daily High	0.712
Previous Daily Low	0.7056
Previous Weekly High	0.702
Previous Weekly Low	0.6822
Previous Monthly High	0.7089
Previous Monthly Low	0.6805
Daily Fibonacci 38.2%	0.7096
Daily Fibonacci 61.8%	0.708
Daily Pivot Point S1	0.7071
Daily Pivot Point S2	0.7032
Daily Pivot Point S3	0.7007
Daily Pivot Point R1	0.7135
Daily Pivot Point R2	0.716
Daily Pivot Point R3	0.7199

Author

Rekha Chauhan

Independent Analyst

Rekha Chauhan has been working as a content writer and research analyst in the forex and equity market domain for over two years.

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