NZD/USD technical analysis: 50-day SMA caps immediate upside targeting 61.8% Fibo.

NZD/USD’s latest run-up towards 61.8% Fibonacci retracement confronts 50-day SMA.
21-day SMA acts as an immediate support

Anil Panchal FXStreet

Despite flashing 9-day high, the NZD/USD pair falls short of clearing 50-day SMA as it takes the bids near 0.6592 during the early Asian session on Friday.

Given the pair’s ability to cross 0.6595 immediate resistance, 61.8% Fibonacci retracement of its October – December 2018 upside, near 0.6632, could come back on the chart.

However, additional upside past-0.6632 will have multiple resistances to cross namely current month top of .6682, 50% Fibonacci retracement level of 0.6700 and 200-day simple moving average (SMA) level of 0.6710.

Meanwhile, pullback moves can target the 21-day SMA level of 0.6565 ahead of visiting 0.6525 and 0.6480 supports.

It should also be noted that sellers’ dominance past-0.6480 can recall 0.6460 and 0.6425 as quotes.

NZD/USD daily chart

Trend: Bearish

Additional important levels

Overview
Today last price	0.6591
Today Daily Change	4 pips
Today Daily Change %	0.06%
Today daily open	0.6587

Trends
Daily SMA20	0.6564
Daily SMA50	0.6598
Daily SMA100	0.6709
Daily SMA200	0.671

Levels
Previous Daily High	0.6596
Previous Daily Low	0.6534
Previous Weekly High	0.6666
Previous Weekly Low	0.6487
Previous Monthly High	0.6684
Previous Monthly Low	0.6481
Daily Fibonacci 38.2%	0.6573
Daily Fibonacci 61.8%	0.6558
Daily Pivot Point S1	0.6549
Daily Pivot Point S2	0.651
Daily Pivot Point S3	0.6486
Daily Pivot Point R1	0.6611
Daily Pivot Point R2	0.6635
Daily Pivot Point R3	0.6674

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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