NZD/USD Price Analysis: Eyes 0.7250 amid bullish crossover

NZD/USD remains poised for additional upside.
Hourly sticks chart bullish crossover.
RSI remains in overbought conditions.

Dhwani Mehta FXStreet

NZD/USD is looking to extend its break higher after a brief consolidative stint, thanks to the broad-based US dollar weakness, buoyant risk tone and favorable technical set up.

The kiwi’s hourly chart shows a double bullish crossover, which points to more gains in the offing.

The bullish 21-hourly moving average (HMA) pierced through the horizontal 200-HMA. At the same time, the 50-HMA crossed above the 100-HMA, backing the upside break from the Asian bullish consolidation.

At the time of writing, NZD/USD surges 0.66% on a daily basis to trade at 0.7216, heading towards Wednesday’s high of 0.7248.

The Relative Strength Index (RSI) is edging higher within the overbought region, warranting caution for the bulls. But the path of least resistance appears to the upside.

Alternatively, the bullish 21-HMA at 0.7182 could offer strong support should the price attempt a pullback.

NZD/USD: Hourly chart

NZD/USD: Additional levels

NZD/USD

Overview
Today last price	0.7217
Today Daily Change	0.0045
Today Daily Change %	0.63
Today daily open	0.7172

Trends
Daily SMA20	0.7156
Daily SMA50	0.7074
Daily SMA100	0.6868
Daily SMA200	0.6633

Levels
Previous Daily High	0.7175
Previous Daily Low	0.7113
Previous Weekly High	0.7241
Previous Weekly Low	0.7118
Previous Monthly High	0.7241
Previous Monthly Low	0.7002
Daily Fibonacci 38.2%	0.7151
Daily Fibonacci 61.8%	0.7137
Daily Pivot Point S1	0.7131
Daily Pivot Point S2	0.7091
Daily Pivot Point S3	0.7069
Daily Pivot Point R1	0.7193
Daily Pivot Point R2	0.7215
Daily Pivot Point R3	0.7255

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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