- NZD/USD probes intraday high while aiming to refresh three-week top flashed on Friday.
- A bullish candlestick formation joins upbeat MACD histogram to favor buyers targeting 61.8% Fibonacci retracement.
- Sellers will wait for a clear downside below 50% Fibonacci retracement.
NZD/USD prints mild gains while picking up the bids near 0.6665, up 0.06% intraday, ahead of Monday’s European session. Even so, the kiwi pair stays below Friday’s top, also the highest since September 22.
The quote flashes a bullish candlestick formation, namely the Dragonfly Doji, on the four-hour chart amid price-positive MACD signals. Additionally, the pair also trades above 50% Fibonacci retracement of the late-September downside and 200-bar SMA, which in turn favors NZD/USD buyers.
As a result, the 61.8% Fibonacci retracement level of 0.6690 gains the short-term traders’ attention if they manage to cross 0.6674 immediate upside hurdle.
During further advances of NZD/USD, beyond 0.6690, the 0.6700 round-figures and 0.6760 may entertain the optimists ahead of diverting them to September month’s peak surrounding the 0.6800 mark.
On the contrary, the 0.6660/55 area including 200-bar SMA and 50% Fibonacci retracement level can restrict the pair’s immediate downside.
In a case where the NZD/USD sellers dominate past-0.6655, the 0.6600 threshold will be on their radar.
NZD/USD four-hour chart
Trend: Further upside expected
Additional important levels
|Today last price||0.6663|
|Today Daily Change||4 pips|
|Today Daily Change %||0.06%|
|Today daily open||0.6659|
|Previous Daily High||0.6674|
|Previous Daily Low||0.6574|
|Previous Weekly High||0.6674|
|Previous Weekly Low||0.6546|
|Previous Monthly High||0.6799|
|Previous Monthly Low||0.6511|
|Daily Fibonacci 38.2%||0.6636|
|Daily Fibonacci 61.8%||0.6612|
|Daily Pivot Point S1||0.6597|
|Daily Pivot Point S2||0.6536|
|Daily Pivot Point S3||0.6497|
|Daily Pivot Point R1||0.6698|
|Daily Pivot Point R2||0.6736|
|Daily Pivot Point R3||0.6798|
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