NZD/USD Price Analysis: Marching towards monthly high, 0.6800 next in line

NZD/USD seesaws near the two-week high after flashing intraday peak of 0.6780.
Sustained trading beyond 21-day SMA keeps the buyers hopeful.
Ascending trend lines from July and June may question run-up beyond 0.6800.

Anil Panchal FXStreet

NZD/USD bulls catch a breather around 0.6770, up 0.23% on a day, during the early Friday’s trading. The kiwi pair earlier surged to 0.6780 and refreshed the highest since September 02.

The current up-moves take clues from the successful trading above 21-day SMA and an absence of overbought RSI conditions.

As a result, buyers are targeting a monthly high of 0.6790 and 0.6800 during the further rise.

However, the anticipated overbought conditions in the RSI around 0.6800 may probe the bulls afterward, if not then upward sloping trend lines from July 31 and June 09, respectively around 0.6825 and 0.6840, will be the key to watch.

Meanwhile, the July month’s high around 0.6715 can question NZD/USD pullback ahead of 21-day SMA and 50-day SMA supports, currently around 0.6680 and 0.6635 in that order.

Additionally, an ascending support line from May 15, at 0.6660, also becomes an important level to watch during the quote’s weakness below 0.6715.

NZD/USD daily chart

Trend: Bullish

Additional important levels

Overview
Today last price	0.6773
Today Daily Change	17 pips
Today Daily Change %	0.25%
Today daily open	0.6756

Trends
Daily SMA20	0.6677
Daily SMA50	0.6632
Daily SMA100	0.6471
Daily SMA200	0.6392

Levels
Previous Daily High	0.676
Previous Daily Low	0.6675
Previous Weekly High	0.6724
Previous Weekly Low	0.6601
Previous Monthly High	0.6764
Previous Monthly Low	0.6488
Daily Fibonacci 38.2%	0.6728
Daily Fibonacci 61.8%	0.6707
Daily Pivot Point S1	0.6701
Daily Pivot Point S2	0.6645
Daily Pivot Point S3	0.6616
Daily Pivot Point R1	0.6786
Daily Pivot Point R2	0.6815
Daily Pivot Point R3	0.6871

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.

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