NZD/USD Price Analysis: Defends 50-day SMA support, range play continues

NZD/USD is bouncing up from key SMA support at 0.6633.
A move above 0.6682 is needed to confirm a bullish breakout.

Omkar Godbole FXStreet Contributor

NZD/USD is trading in the red at press time, marking a weak follow-through to Wednesday's 1% gain.

The pair is currently trading at 0.6646, representing a 0.12% drop on the day, having defended the 50-day simple moving average (SMA) of 0.6633 early today.

The immediate bias remains neutral, with the pair trapped in the range of 0.6547 to 0.6682 for the second week. A range breakout would open the doors to a re-test of September highs near 0.68 (target as per the measured move method).

Alternatively, range breakdown would imply a resumption of the sell-off from September highs and may yield a drop to the 200-day SMA at 0.6388.

Daily chart

Trend: Neutral

Technical levels

NZD/USD

Overview
Today last price	0.6646
Today Daily Change	-0.0008
Today Daily Change %	-0.12
Today daily open	0.6654

Trends
Daily SMA20	0.6607
Daily SMA50	0.6633
Daily SMA100	0.6589
Daily SMA200	0.6389

Levels
Previous Daily High	0.6679
Previous Daily Low	0.6573
Previous Weekly High	0.6683
Previous Weekly Low	0.6576
Previous Monthly High	0.6799
Previous Monthly Low	0.6511
Daily Fibonacci 38.2%	0.6639
Daily Fibonacci 61.8%	0.6613
Daily Pivot Point S1	0.6591
Daily Pivot Point S2	0.6529
Daily Pivot Point S3	0.6485
Daily Pivot Point R1	0.6697
Daily Pivot Point R2	0.6741
Daily Pivot Point R3	0.6803

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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