NZD/USD Price Analysis: On the way to 0.6985 horizontal hurdle

NZD/USD prints three-day uptrend, refreshes intraday high.
Break of short-term resistance line, firmer Momentum favor bulls.

Anil Panchal FXStreet

NZD/USD stays on the bid for the third consecutive, refreshing daily high around 0.6945 during early Monday. In doing so, the Kiwi pair crosses a downward sloping trend line from September 23 amid a firmer Momentum line.

The Same helps the pair buyers to aim for the 12-day-old horizontal area around 0.6985-80.

However, any further upside will be challenged by another horizontal resistance zone near 0.7030-35, stretched from September 22.

Should NZD/USD bulls remain dominant past 0.7035, the late September high near 0.7095 becomes important to watch.

Meanwhile, pullback moves will aim for a three-day-old support line near 0.6920 before the rising trend line from September 30 near 0.6885 probes the bears.

In a case where the NZD/USD sellers conquer the 0.6885 support, odds of witnessing a fresh yearly low, currently around 0.6805, can’t be ruled out.

NZD/USD: Hourly chart

Trend: Further upside expected

Additional impotant levels

Overview
Today last price	0.694
Today Daily Change	0.0001
Today Daily Change %	0.01%
Today daily open	0.6939

Trends
Daily SMA20	0.6999
Daily SMA50	0.7008
Daily SMA100	0.7038
Daily SMA200	0.7108

Levels
Previous Daily High	0.6961
Previous Daily Low	0.6908
Previous Weekly High	0.6984
Previous Weekly Low	0.6876
Previous Monthly High	0.7171
Previous Monthly Low	0.6859
Daily Fibonacci 38.2%	0.6941
Daily Fibonacci 61.8%	0.6928
Daily Pivot Point S1	0.6911
Daily Pivot Point S2	0.6883
Daily Pivot Point S3	0.6859
Daily Pivot Point R1	0.6964
Daily Pivot Point R2	0.6989
Daily Pivot Point R3	0.7016

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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