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

 

 

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