NZD/USD Price Analysis: Sidelined after rejection at 0.70

NZD/USD in statsis as daily chart shows uptrend fatigue.
A pullback to widely-followed SMA support may be seen.

Omkar Godbole FXStreet Contributor

NZD/USD is currently trading in a sideways manner near 0.6975, having faced rejection at the psychological hurdle of 0.70 on Tuesday.

The 14-day relative strength index is reporting overbought conditions with an above-70 print. The MACD histogram is producing smaller bars above the zero line in a sign of weakening of the upward momentum.

As such, the pair could pull back to the 10-day Simple Moving Average (SMA), currently at 0.6910. A close below the average would neutralize the immediate bullish view.

On the higher side, 0.70 is the level to beat for the bulls.

Daily chart

Trend: Bullish

Technical levels

NZD/USD

Overview
Today last price	0.6976
Today Daily Change	-0.0002
Today Daily Change %	-0.03
Today daily open	0.6978

Trends
Daily SMA20	0.6807
Daily SMA50	0.6703
Daily SMA100	0.6664
Daily SMA200	0.6423

Levels
Previous Daily High	0.7005
Previous Daily Low	0.6917
Previous Weekly High	0.6952
Previous Weekly Low	0.6841
Previous Monthly High	0.6726
Previous Monthly Low	0.6546
Daily Fibonacci 38.2%	0.6971
Daily Fibonacci 61.8%	0.6951
Daily Pivot Point S1	0.6928
Daily Pivot Point S2	0.6879
Daily Pivot Point S3	0.684
Daily Pivot Point R1	0.7016
Daily Pivot Point R2	0.7055
Daily Pivot Point R3	0.7104

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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