NZD/USD Price Analysis: Eases from multi-day top above 0.7000, eyes four-month-old support

NZD/USD struggles to rise past-0.7000 after stepping back from June 2018 top.
Overbought RSI conditions also challenge the upside momentum.
10-day SMA adds to the downside filter below the previous resistance line.

Anil Panchal FXStreet

NZD/USD wobbles inside nearly 15-pips area, currently down 0.05% intraday around 0.7007, so far during early Thursday. In doing so, the kiwi bulls mark a halt after challenging the 2.5-year high the previous day.

With the overbought RSI favoring further weakness in NZD/USD prices, sellers will eye fresh entries below an ascending trend line from late-July, currently around 0.6985. In doing so, a 10-day SMA level of 0.6934 will be on their radars.

However, December 2018 low and high marked in early 2019, respectively around 0.6970 and 0.6945/40, offer a bumpy road to the south.

Alternatively, a fresh high beyond 0.7016 will aim for the mid-2018 peak surrounding 0.7060/65.

During the quote’s further advances past-0.7065, the 0.7100 round-figure and March 2018 low close to 0.7150 will be the key to watch.

NZD/USD daily chart

Trend: Bullish

Additional important levels

Overview
Today last price	0.7008
Today Daily Change	-2 pips
Today Daily Change %	-0.03%
Today daily open	0.701

Trends
Daily SMA20	0.6826
Daily SMA50	0.6709
Daily SMA100	0.6668
Daily SMA200	0.6426

Levels
Previous Daily High	0.7016
Previous Daily Low	0.696
Previous Weekly High	0.6952
Previous Weekly Low	0.6841
Previous Monthly High	0.6726
Previous Monthly Low	0.6546
Daily Fibonacci 38.2%	0.6995
Daily Fibonacci 61.8%	0.6981
Daily Pivot Point S1	0.6975
Daily Pivot Point S2	0.694
Daily Pivot Point S3	0.6919
Daily Pivot Point R1	0.7031
Daily Pivot Point R2	0.7052
Daily Pivot Point R3	0.7087

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.