NZD/USD Technical Analysis: Adjacent supportline again highlights 0.6970 for buyers

The NZD/USD pair remains positive around 0.6900 at the start of Wednesday’s Asian trading. Supporting the pair’s strength is a fortnight long upward sloping trendline at 0.6880 now.
As a result, the pair’s gradual advances to the 0.6910 and the 0.6940 can be expected soon before highlighting the 0.6970 for the bulls.
Should the quote continue rising past-0.6970, the 0.7000 and the 0.7030 are likely following resistances to appear on the chart.
On the downside break of 0.6880, the pair may revisit the 0.6840 and the 0.6800 support levels.
In case the prices slid under 0.6800, the 0.6750-45 and the 0.6690 might entertain the sellers.

Anil Panchal FXStreet

NZD/USD 4-Hour chart

NZD/USD

Overview:
    Today Last Price: 0.6902
    Today Daily change: 7 pips
    Today Daily change %: 0.10%
    Today Daily Open: 0.6895
Trends:
    Daily SMA20: 0.6817
    Daily SMA50: 0.6804
    Daily SMA100: 0.672
    Daily SMA200: 0.6761
Levels:
    Previous Daily High: 0.6907
    Previous Daily Low: 0.6871
    Previous Weekly High: 0.6943
    Previous Weekly Low: 0.6816
    Previous Monthly High: 0.694
    Previous Monthly Low: 0.6516
    Daily Fibonacci 38.2%: 0.6893
    Daily Fibonacci 61.8%: 0.6885
    Daily Pivot Point S1: 0.6875
    Daily Pivot Point S2: 0.6855
    Daily Pivot Point S3: 0.6839
    Daily Pivot Point R1: 0.6911
    Daily Pivot Point R2: 0.6927
    Daily Pivot Point R3: 0.6947

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.

EUR/USD flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.