- NZD/USD remains pressured around intraday low, prints daily losses for the first time in four.
- Sustained break of 21-DMA, bullish MACD favor buyers to approach a wall of resistance.
NZD/USD refreshes intraday low to 0.6811, down 0.28% on a day, to become the biggest G10 loser on a sluggish Friday morning. In doing so, the Kiwi pair snaps a three-day uptrend to ease from the highest level in three weeks.
Although the 0.6800 threshold becomes imminent support to watch during the latest easing, the 21-DMA level of 0.6785 will restrict the pair’s further downside.
In a case where the quote drops below 0.6785, the 0.6740 level may act as a buffer before dragging the quote towards the yearly low surrounding 0.6700.
On the flip side, sustained trading beyond 21-DMA enables NZD/USD buyers to attack a horizontal area comprising multiple levels marked since September, around 0.6855-60.
While the quote’s advances past 0.6860 seem difficult, a successful run won’t hesitate to challenge the 100-DMA level of 0.6985.
To sum up, NZD/USD prices are likely to witness further correction further the bulls aren’t out of the woods.
NZD/USD: Daily chart
Trend: Further consolidation of recent gains expected
Additional important levels
|Today last price||0.6814|
|Today Daily Change||-0.0016|
|Today Daily Change %||-0.23%|
|Today daily open||0.683|
|Previous Daily High||0.6842|
|Previous Daily Low||0.6795|
|Previous Weekly High||0.6834|
|Previous Weekly Low||0.6701|
|Previous Monthly High||0.7199|
|Previous Monthly Low||0.6773|
|Daily Fibonacci 38.2%||0.6824|
|Daily Fibonacci 61.8%||0.6813|
|Daily Pivot Point S1||0.6803|
|Daily Pivot Point S2||0.6775|
|Daily Pivot Point S3||0.6756|
|Daily Pivot Point R1||0.685|
|Daily Pivot Point R2||0.6869|
|Daily Pivot Point R3||0.6897|
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