NZD/USD Price Analysis: Dragonfly Doji keeps buyers hopeful above 0.6650

  • 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
Daily SMA20 0.6634
Daily SMA50 0.6631
Daily SMA100 0.6559
Daily SMA200 0.6389
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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