NZD/USD technical analysis: 0.6430/32 becomes the tough nut to crack for buyers

NZD/USD keeps trailing 100-HMA, seven-day-old descending trend-line.
An upside clearance can recall last week’s top, 0.6400 seem nearby key support.

Anil Panchal FXStreet

NZD/USD remains below short-term important resistance-confluence as it trades near 0.6420 during early Tuesday.

A confluence including 100-hour moving average (HMA) and a seven-day-old downward sloping trend-line, at 0.6430/32, exert downside pressure while August 13 high surrounding 0.6472 can please buyers after the breakout.

In a case where prices rally past-0.6472, August 09 high of 0.6500 will be on the bulls’ radar.

Meanwhile, 0.6400 and the monthly low near to 0.6377 can entertain sellers during further declines whereas the year 2016 bottom close to 0.6348 may flash on bears’ list afterward.

NZD/USD hourly chart

Trend: Bearish

Additional important levels

Overview
Today last price	0.6418
Today Daily Change	11 pips
Today Daily Change %	0.17%
Today daily open	0.6407

Trends
Daily SMA20	0.6534
Daily SMA50	0.6601
Daily SMA100	0.6616
Daily SMA200	0.6715

Levels
Previous Daily High	0.6443
Previous Daily Low	0.6402
Previous Weekly High	0.6475
Previous Weekly Low	0.6421
Previous Monthly High	0.6792
Previous Monthly Low	0.6543
Daily Fibonacci 38.2%	0.6418
Daily Fibonacci 61.8%	0.6427
Daily Pivot Point S1	0.6392
Daily Pivot Point S2	0.6376
Daily Pivot Point S3	0.635
Daily Pivot Point R1	0.6433
Daily Pivot Point R2	0.6458
Daily Pivot Point R3	0.6474

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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