NZD/USD Price Analysis: Closing on key trendline support after rejection above Tuesday's high

  • NZD/USD is approaching four-month ascending trendline support. 
  • Acceptance below the rising trendline would expose support located at 0.6466.

Having faced rejection just above Tuesday's high of 0.6550 in early Asia, the NZD/USD pair is now fast approaching the support of the trendline trending north from Oct. 1 and Nov. 13 lows. 

At press time, the trendline support is located at 0.6532 and the pair is trading at 0.6537. 

If the trendline support absorbs selling pressure, bulls might breathe a sigh of relief and another attempt higher could be initiated targeting resistance at 0.6550. A daily close above that level would confirm a bullish hammer reversal pattern (Kiwi created bull hammer on Tuesday). 

On the other hand, if the trendline support is breached, the downward momentum could gather pace, yielding a quick drop to 0.6466 (Nov. 4 high). 

Daily chart

Trend: Bearish

Technical levels


Today last price 0.6539
Today Daily Change 0.0000
Today Daily Change % 0.00
Today daily open 0.6539
Daily SMA20 0.6625
Daily SMA50 0.6581
Daily SMA100 0.6463
Daily SMA200 0.6511
Previous Daily High 0.6551
Previous Daily Low 0.652
Previous Weekly High 0.663
Previous Weekly Low 0.658
Previous Monthly High 0.6756
Previous Monthly Low 0.6424
Daily Fibonacci 38.2% 0.6532
Daily Fibonacci 61.8% 0.6539
Daily Pivot Point S1 0.6522
Daily Pivot Point S2 0.6506
Daily Pivot Point S3 0.6491
Daily Pivot Point R1 0.6553
Daily Pivot Point R2 0.6568
Daily Pivot Point R3 0.6584



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