NZD/USD technical analysis: 50-day SMA, 23.6% Fibo. keep latest recovery in check


  • NZD/USD stays around the three-week low.
  • An ascending trend line since October-start acts as near-term key support.
  • Bulls look for a sustained break of 100-day SMA.

The NZD/USD pair’s recent recovery from the lowest since October 17 confronts immediate resistance-confluence while taking the bids to 0.6343 during early Monday.

A daily closing beyond 50-day Simple Moving Average (SMA) and 23.6% Fibonacci retracement of July-October declines, around 0.6340/45 become necessary for buyers to confront one-week-old falling trend line resistance, at 0.6365.

Though, pair’s sustained rise beyond 0.6365 will escalate the upside towards 0.6400, 38.2% Fibonacci retracement level near 0.6430 and 100-day SMA level of 0.6455.

Alternatively, an upward sloping trend line since early-October, at 0.6294, offers nearby strong support to the quote, a break of which could trigger fresh declines to 0.6240 and 0.6200 rest-points.

NZD/USD daily chart

Trend: Bearish

additional important levels

Overview
Today last price 0.6344
Today Daily Change 15 pips
Today Daily Change % 0.24%
Today daily open 0.6329
 
Trends
Daily SMA20 0.6368
Daily SMA50 0.6343
Daily SMA100 0.6456
Daily SMA200 0.6581
 
Levels
Previous Daily High 0.6382
Previous Daily Low 0.6321
Previous Weekly High 0.6466
Previous Weekly Low 0.6321
Previous Monthly High 0.6437
Previous Monthly Low 0.6204
Daily Fibonacci 38.2% 0.6344
Daily Fibonacci 61.8% 0.6359
Daily Pivot Point S1 0.6306
Daily Pivot Point S2 0.6283
Daily Pivot Point S3 0.6245
Daily Pivot Point R1 0.6367
Daily Pivot Point R2 0.6405
Daily Pivot Point R3 0.6428

 

 

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