NZD/USD Price Analysis: The pair continues to hold above 0.67 and there is more resistance ahead


  • NZD/USD is trading 0.21% higher at 0.6714 on Tuesday.
  • The pair has been one of the biggest beneficiaries of the USD weakness.

NZD/USD 1-hour chart

NZD/USD  has been moving higher again since the trendline break marked out on the chart. At the moment the pair is making higher highs and higher lows and a test of the highs looks like a real possibility. 

At the moment the price is holding above the 0.67 level and the next major resistance is marked in orange. The level is at 0.6741 and if the bulls can take out that zone then the high at 0.6790 could be next. 

On the downside, the redline at 0.6687 is the next level to watch. If that breaks the point where the trendline was retested at 0.6641 looks firm. The indicators are looking mixed at the moment. The Relative Strength Index has just dipped below 50 and the MACD histogram is in the red. The only bullish sign is the fact that the signal lines are above the mid-level.

Tomorrow is the latest FOMC meeting and if the Fed are bearish then the trend could continue. Look out for a break of the orange resistance as confirmation if this is the case. On the downside, if the Fed sound a more hawkish tone the support zones on the chart will certainly be in focus.

Kiwi technical analysis

Additional levels

NZD/USD

Overview
Today last price 0.6714
Today Daily Change 0.0013
Today Daily Change % 0.19
Today daily open 0.6701
 
Trends
Daily SMA20 0.6651
Daily SMA50 0.6622
Daily SMA100 0.6452
Daily SMA200 0.639
 
Levels
Previous Daily High 0.6719
Previous Daily Low 0.6661
Previous Weekly High 0.6724
Previous Weekly Low 0.6601
Previous Monthly High 0.6764
Previous Monthly Low 0.6488
Daily Fibonacci 38.2% 0.6697
Daily Fibonacci 61.8% 0.6683
Daily Pivot Point S1 0.6668
Daily Pivot Point S2 0.6636
Daily Pivot Point S3 0.6611
Daily Pivot Point R1 0.6726
Daily Pivot Point R2 0.6751
Daily Pivot Point R3 0.6784

 

 

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