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NZD/USD Technical Analysis: 200-hour MA is key resistance

The NZD/USD pair's recovery rally from the Jan. 2 low of 0.6586 stalled at the 200-hour moving average (HMA) on Friday. As a result, a convincing move above that key MA is needed to revive the bullish view.

Hourly Chart

The higher highs and higher lows seen in the hourly chart indicate that the sell-off from the Dec. 4 high of 0.6969 ended at 0.6586 and the bulls have likely regained control.

The 200-HMA, however, capped gains on Friday, weakening the bullish pressures to some extent. A break higher, therefore, would validate trend reversal and open the doors to 0.6813 (200-day EMA).

15-min chart

The triangle breakout seen in the above chart indicates that the rally from the recent low of 0.6586 has resumed. As a result, the pair could soon find acceptance above the 200-HMA.

Trend: Bullish

NZD/USD

Overview:
    Today Last Price: 0.6746
    Today Daily change: 10 pips
    Today Daily change %: 0.148%
    Today Daily Open: 0.6736
Trends:
    Previous Daily SMA20: 0.6766
    Previous Daily SMA50: 0.6771
    Previous Daily SMA100: 0.6677
    Previous Daily SMA200: 0.6809
Levels:
    Previous Daily High: 0.6752
    Previous Daily Low: 0.667
    Previous Weekly High: 0.6843
    Previous Weekly Low: 0.6516
    Previous Monthly High: 0.697
    Previous Monthly Low: 0.6686
    Previous Daily Fibonacci 38.2%: 0.6721
    Previous Daily Fibonacci 61.8%: 0.6702
    Previous Daily Pivot Point S1: 0.6687
    Previous Daily Pivot Point S2: 0.6638
    Previous Daily Pivot Point S3: 0.6605
    Previous Daily Pivot Point R1: 0.6769
    Previous Daily Pivot Point R2: 0.6801
    Previous Daily Pivot Point R3: 0.6851

Author

Omkar Godbole

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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