NZD/USD Technical Analysis: 0.6700 back in focus now

Anil Panchal FXStreet

NZD/USD daily chart

The NZD/USD pair trades around 0.6730 at the start of Tuesday’s Asian trading.
The 100-day simple moving average (SMA) near 0.6720 can offer immediate support to the pair’s decline prior to highlighting the 0.6700 round-figure.
However, an upward sloping trend-line connecting lows since October 2018, at 0.6660 now, could limit the pair’s downside past 0.6700.
On the upside, the 0.6775 and the 61.8% Fibonacci Retracement of its June-October downturn, at 0.6815, seem crucial resistances to watch.

NZD/USD 4-Hour chart

While 100-day SMA offers immediate support on D1, the H4 chart clearly portrays the importance of 0.6705-0.6700 support area connecting the lows marked in January 08 and 22.
Should the pair drops under 0.6700, the 0.6670 and 0.6620 may offer additional supports other than 0.6660 conveyed on daily chart.

NZD/USD hourly chart

On H1, prices can avail 0.6725 as adjacent rest before slipping to 0.6710 level including 61.8% Fibonacci expansion of its recent slump.
Meanwhile, the 0.6740 and the descending trend-line figure of 0.6770 can restrict the pair’s nearby upside.

Additional Important Levels:

Overview:
    Today Last Price: 0.6732
    Today Daily change: -17 pips
    Today Daily change %: -0.25%
    Today Daily Open: 0.6749
Trends:
    Daily SMA20: 0.6813
    Daily SMA50: 0.6799
    Daily SMA100: 0.6724
    Daily SMA200: 0.6757
Levels:
    Previous Daily High: 0.6767
    Previous Daily Low: 0.6729
    Previous Weekly High: 0.6907
    Previous Weekly Low: 0.6729
    Previous Monthly High: 0.694
    Previous Monthly Low: 0.6516
    Daily Fibonacci 38.2%: 0.6744
    Daily Fibonacci 61.8%: 0.6752
    Daily Pivot Point S1: 0.673
    Daily Pivot Point S2: 0.671
    Daily Pivot Point S3: 0.6692
    Daily Pivot Point R1: 0.6768
    Daily Pivot Point R2: 0.6786
    Daily Pivot Point R3: 0.6806

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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