NZD/USD Technical Analysis: At six-month highs, charts remain constructive

The NZD/USD is currently trading at 0.6950 - the level was last seen on June 18 - having gapped above the 200-day moving average (MA) hurdle yesterday on the back of US-China trade truce.
The Kiwi looks set to extend gains further toward 0.70 as the US-Chian trad war pause could keep risk assets better bid ahead of the Christmas holidays. Further, the 14-day relative strength index (RSI) is still isn't showing overbought conditions.
The 5- and 10-day moving averages (MAs) are trending north in favor of the bulls. Further, 50-, 100- and 200-candle MAs on the 4-hour chart are aligned in favor of the bulls.
The bullish pressures, however, would weaken if the pair finds acceptance below the ascending 10-day EMA of 0.6847.

Omkar Godbole FXStreet Contributor

Daily Chart

4-hour Chart

Trend: Bullish

NZD/USD

Overview:
    Today Last Price: 0.6948
    Today Daily change: 28 pips
    Today Daily change %: 0.405%
    Today Daily Open: 0.692
Trends:
    Previous Daily SMA20: 0.6804
    Previous Daily SMA50: 0.6654
    Previous Daily SMA100: 0.6663
    Previous Daily SMA200: 0.6865
Levels:
    Previous Daily High: 0.6941
    Previous Daily Low: 0.6882
    Previous Weekly High: 0.6887
    Previous Weekly Low: 0.6753
    Previous Monthly High: 0.6887
    Previous Monthly Low: 0.6514
    Previous Daily Fibonacci 38.2%: 0.6918
    Previous Daily Fibonacci 61.8%: 0.6904
    Previous Daily Pivot Point S1: 0.6887
    Previous Daily Pivot Point S2: 0.6855
    Previous Daily Pivot Point S3: 0.6828
    Previous Daily Pivot Point R1: 0.6947
    Previous Daily Pivot Point R2: 0.6974
    Previous Daily Pivot Point R3: 0.7006

Author

Omkar Godbole

FXStreet Contributor

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

EUR/USD faces next resistance near 1.1930

EUR/USD has surrendered its earlier intraday advance on Thursday and is now hovering uncomfortably around the 1.1860 region amid modest gains in the US Dolla. Moving forward, markets are exoected to closely follow Friday’s release of US CPI data.

GBP/USD change course, nears 1.3600

GBP/USD gives away its daily gains and recedes toward the low-1.3600s on Thursday. Indeed, Cable now struggles to regain some upside traction on the back of the sudden bout of buying interest in the Greenback. In the meantime, investors continue to assess a string of underwhelming UK data releases released earlier in the day.

Gold plunges on sudden US Dollar demand

Gold drops markedly on Thursday, challenging the $4,900 mark per troy ounce following a firm bounce in the US Dollar and amid a steep sell-off on Wall Street, with losses led by the tech and housing sectors.

Ripple collaborates with Aviva Investors to tokenize funds as XRP interest declines

Ripple (XRP) exhibits subtle recovery signs, trading slightly above $1.40 at the time of writing on Thursday, as crypto prices broadly edge higher. Despite the metered uptick, risk-off sentiment remains a concern across the crypto market, as retail and institutional interest dwindle.

A tale of two labour markets: Headline strength masks underlying weakness

Undoubtedly, yesterday’s delayed US January jobs report delivered a strong headline – one that surpassed most estimates. However, optimism quickly faded amid sobering benchmark revisions.

Aster Price Forecast: Demand sparks on Binance Wallet partnership for on-chain perpetuals

Aster is up roughly 9% so far on Thursday, hinting at the breakout of a crucial resistance level. Aster partners up with Binance wallet for the second season of the on-chain perpetuals challenge.