NZD/USD Price Analysis: Rebound from intraday low stays doubtful unless crossing 0.7310


  • NZD/USD picks up bids following the U-turn from 0.7226.
  • Sustained trading below 10-day SMA, most bearish MACD signals in a month favor sellers.
  • Bulls need to cross January top for upside validation.

NZD/USD wavers around mid-0.7200s, up 0.08% intraday, during early Thursday. In doing so, the kiwi pair keeps the latest bounce off intraday low but struggles to gain further traction to the north.

That said, bearish MACD and the pair’s pullback from 10-day SMA keep NZD/USD sellers hopeful to retest an ascending trend line from December 21, at 0.7198 now.

However, any further downside will trigger a trend channel from the currently favoring bulls to highlight February low near 0.7135 for the NZD/USD bears.

Meanwhile, recovery moves need to cross the 10-day SMA level of 0.7310 on a daily closing basis to convince buyers.

Also acting as an upside barrier is January’s top near 0.7320, a break of which will escalate the run-up to the 0.7400 round-figure ahead of challenging the multi-month top, flashed in February, near 0.7465.

NZD/USD daily chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price 0.7251
Today Daily Change 3 pips
Today Daily Change % 0.04%
Today daily open 0.7248
 
Trends
Daily SMA20 0.7258
Daily SMA50 0.7203
Daily SMA100 0.7045
Daily SMA200 0.6809
 
Levels
Previous Daily High 0.7305
Previous Daily Low 0.7237
Previous Weekly High 0.7466
Previous Weekly Low 0.7223
Previous Monthly High 0.7466
Previous Monthly Low 0.7135
Daily Fibonacci 38.2% 0.7263
Daily Fibonacci 61.8% 0.7279
Daily Pivot Point S1 0.7222
Daily Pivot Point S2 0.7196
Daily Pivot Point S3 0.7154
Daily Pivot Point R1 0.729
Daily Pivot Point R2 0.7332
Daily Pivot Point R3 0.7358

 

 

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