NZD/USD Price Analysis: Monthly trendline, 38.2% Fibonacci limit immediate declines


  • NZD/USD stays under pressure for the third consecutive day, nears short-term key support.
  • The pair has been trading below 21-day SMA, 23.6% Fibonacci retracement for the last two weeks.
  • The pair’s further downside can benefit from bearish MACD.

NZD/USD remains on the back foot while trading around 0.6607 during the pre-European session on Tuesday. The pair nears an upward sloping trend line since December 18 as well as 38.2% Fibonacci retracement level of the pair’s November-December upside.

Should bearish MACD drag NZD/USD prices below 0.6590/88 support confluence, 50% Fibonacci retracement near 0.6535 could gain the market’s attention.

During the pair’s further downside past-0.6535, 0.6500 and November 04 top near 0.6465 can please the sellers.

On the contrary, 21-day SMA and 23.6% Fibonacci retracement restrict short-term upside around 0.6650/55.

Buyers will wait for a daily closing beyond 0.6655 to aim for 0.6700 and 2019 close near 0.6755.

NZD/USD daily chart

Trend: Pullback expected

Additional important levels

Overview
Today last price 0.6607
Today Daily Change -7 pips
Today Daily Change % -0.11%
Today daily open 0.6614
 
Trends
Daily SMA20 0.6657
Daily SMA50 0.6559
Daily SMA100 0.6452
Daily SMA200 0.6514
 
Levels
Previous Daily High 0.6625
Previous Daily Low 0.6591
Previous Weekly High 0.6666
Previous Weekly Low 0.6584
Previous Monthly High 0.6756
Previous Monthly Low 0.6424
Daily Fibonacci 38.2% 0.6604
Daily Fibonacci 61.8% 0.6612
Daily Pivot Point S1 0.6595
Daily Pivot Point S2 0.6576
Daily Pivot Point S3 0.6561
Daily Pivot Point R1 0.6629
Daily Pivot Point R2 0.6644
Daily Pivot Point R3 0.6663

 

 

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