- NZD/USD fades Thursday’s recovery moves below 200-HMA, monthly resistance line.
- Weekly horizontal support tests sellers amid sturdy RSI.
- 0.7245-50 area adds to the upside filters before the monthly top.
NZD/USD edges lower around 0.7190, down 0.15% intraday, amid Friday’s Asian session trading. The kiwi pair recovered from 0.7164 the previous day but couldn’t cross a convergence of 200-HMA and a downward sloping trend line from June 01.
Considering the sturdy RSI, the latest pullback moves seem doubtful to break the 0.7165-60 horizontal support area. Also likely to challenge the NZD/USD sellers is the monthly low of 0.7125.
It’s worth noting that a clear downside break of 0.7125 will make the kiwi pair drop further towards May’s low near 0.7115 and then to the 0.7100 threshold.
On the flip side, a clear break of 0.7210 resistance confluence isn’t a free pass to the NZD/USD buyers as a horizontal area established since May 31, around 0.7245-50 acts as an extra hurdle to the north.
Overall, NZD/USD remains sideways between 0.7160 and 0.7250.
NZD/USD hourly chart
Trend: Pullback expected
Additional important levels
|Today last price||0.7193|
|Today Daily Change||-0.0011|
|Today Daily Change %||-0.15%|
|Today daily open||0.7204|
|Previous Daily High||0.7213|
|Previous Daily Low||0.7164|
|Previous Weekly High||0.7289|
|Previous Weekly Low||0.7126|
|Previous Monthly High||0.7317|
|Previous Monthly Low||0.7115|
|Daily Fibonacci 38.2%||0.7194|
|Daily Fibonacci 61.8%||0.7183|
|Daily Pivot Point S1||0.7174|
|Daily Pivot Point S2||0.7145|
|Daily Pivot Point S3||0.7125|
|Daily Pivot Point R1||0.7223|
|Daily Pivot Point R2||0.7243|
|Daily Pivot Point R3||0.7272|
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.