- NZD/USD grinds higher at weekly top, up for the fourth consecutive day.
- Monthly peak, 61.8% Fibonacci retracement add to the upside filters.
- Pullback remains elusive beyond 50-DMA, MACD favors buyers.
NZD/USD remains on the front foot around 0.6900 while printing a four-day winning streak during Friday’s Asian session.
In doing so, the Kiwi pair justifies the early-week bounce off the 50-DMA, as well as the following run-up beyond the 100-DMA, amid bullish MACD signals.
However, the 200-DMA level of 0.6915 challenges the NZD/USD bulls of late.
Also acting as the key upside hurdle is the monthly peak and 61.8% Fibonacci retracement (Fibo.) of October 2021 to January 2022 downside, respectively around 0.6930 and 0.6955.
Meanwhile, pullback moves may aim for the 50% Fibo. surrounding 0.6870 before dropping back to the 100-DMA level of 0.6810.
It should be noted, however, that an upward sloping trend line from late January and the 50-DMA, respectively around 0.6750 and 0.6730, will challenge the NZD/USD bears afterward.
In a case where the quote drops below 0.6730, it becomes vulnerable to test 2022 low near 0.6530.
NZD/USD: Daily chart
Trend: Further upside expected
Additional important levels
|Today last price||0.6893|
|Today Daily Change||0.0011|
|Today Daily Change %||0.16%|
|Today daily open||0.6882|
|Previous Daily High||0.69|
|Previous Daily Low||0.6823|
|Previous Weekly High||0.6926|
|Previous Weekly Low||0.6796|
|Previous Monthly High||0.681|
|Previous Monthly Low||0.6565|
|Daily Fibonacci 38.2%||0.6871|
|Daily Fibonacci 61.8%||0.6852|
|Daily Pivot Point S1||0.6837|
|Daily Pivot Point S2||0.6791|
|Daily Pivot Point S3||0.676|
|Daily Pivot Point R1||0.6914|
|Daily Pivot Point R2||0.6945|
|Daily Pivot Point R3||0.6991|
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