NZD/USD technical analysis: 16-week old resistance-line, 200-day EMA again in the spotlight


  • Successful trading beyond 100-day EMA, rising RSI, favors the NZD/USD pair’s an upside.
  • Buyers targeting March lows, mid-April highs await the break of near-term key resistances.

With the sustained break of a 100-day exponential moving average (EMA), the NZD/USD pair seems all set to question near-term key resistances as it takes the rounds to 0.6680 during early Friday.

Among the crucial upside barriers, a downward sloping trend-line stretched since late-March around 0.6702 will be the first to challenge buyers whereas 200-day EMA level of 0.6714 and 50% Fibonacci retracement of December 2018 to May 2019 decline, at 0.6725, can question bulls afterward.

If optimists manage to cross 0.6725, March month low near 0.6744 and the mid-April highs surrounding 0.6784 can please them.

Supporting the upside momentum is ascending but not the overbought pattern of 14-day relative strength index (RSI).

Should prices again slip beneath 100-day EMA level of 0.6660, 0.6610 can offer an intermediate halt to the pair’s slump to 23.6% Fibonacci retracement level of 0.6600.

During the pair’s extended south-run below 0.6600, late-May month high around 0.6560 should be on the bears’ list.

NZD/USD daily chart

Trend: Pullback expected

Additional important levels

Overview
Today last price 0.668
Today Daily Change 19 pips
Today Daily Change % 0.29%
Today daily open 0.6661
 
Trends
Daily SMA20 0.6601
Daily SMA50 0.6589
Daily SMA100 0.6698
Daily SMA200 0.6711
Levels
Previous Daily High 0.669
Previous Daily Low 0.6635
Previous Weekly High 0.6728
Previous Weekly Low 0.6602
Previous Monthly High 0.6722
Previous Monthly Low 0.6487
Daily Fibonacci 38.2% 0.6669
Daily Fibonacci 61.8% 0.6656
Daily Pivot Point S1 0.6634
Daily Pivot Point S2 0.6607
Daily Pivot Point S3 0.6579
Daily Pivot Point R1 0.6689
Daily Pivot Point R2 0.6717
Daily Pivot Point R3 0.6744

 

 

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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD: bears pressuring, 1.0980 critical support

Risk aversion took over the FX board on Friday, weighing on high-yielding assets. The EUR/USD pair, finished the week just a handful of pips above the 1.1000 figure amid mounting tensions between the US and China.

EUR/USD News

GBP/USD: at risk of losing more ground in the short-term

The GBP/USD pair advanced up to 1.2581, it highest in over two months, but was unable to sustain gains, ending the week around 1.2470. Cable could keep losing ground on a break below 1.2460, the immediate support.

GBP/USD News

USD/JPY: at a bring of breaking lower

Fresh risk-off flows resulted in the USD/JPY pair trimming weekly gains on Friday, ending the week at 107.55. The pair barely holding above a critical Fibonacci support at 107.45. Japan’s National inflation steady at lows in August.

USD/JPY News

Gold climbs further beyond $1500 mark, lacks follow-through

Gold edged higher for the second consecutive session on Friday, albeit remained well within a familiar trading range held over the past two weeks or so.

Gold News

Top 3 price prediction Bitcoin, Ripple, Ethereum: Ethereum points to the Moon as Bitcoin takes a break

ETH/USD exceeds $220 and is bidding to lead the market. Bitcoin sets a bear trap and recaptures $10,000. XRP stalls between technical levels and fails to consolidate $0.30.

Read more

Forex MAJORS

Cryptocurrencies

Signatures