NZD/USD technical analysis: Bearish MACD shifts focus to multi-month-old support-lines


  • NZD/USD drops to fresh two-week low amid bearish MACD.
  • A fresh monthly low will favor declines to support-lines stretched from May and June 2019.

NZD/USD drops to a fresh two-week low, near to monthly bottom, while taking rounds to 0.6290 during early Friday.

With the 12-bar moving average convergence and divergence (MACD) flashing bearish signal, sellers are waiting for a break of current monthly low around 0.6270 in order target downward sloping trend-lines from June and May month bottoms, close to 0.6235 and 0.6220 respectively.

On the flip side, 0.6340 and 21-day exponential moving average (EMA) level of 0.6372 can restrict the pair’s near-term advances.

During the pair’s further rise beyond 21-day EMA, 23.6% Fibonacci retracement level of July-September declines, at 0.6395, and 0.6445 nearing 50-day EMA will be the key to watch.

NZD/USD daily chart

Trend: bearish

additional important levels

Overview
Today last price 0.6291
Today Daily Change -10 pips
Today Daily Change % -0.16%
Today daily open 0.6301
 
Trends
Daily SMA20 0.6365
Daily SMA50 0.6486
Daily SMA100 0.6539
Daily SMA200 0.666
 
Levels
Previous Daily High 0.6334
Previous Daily Low 0.6298
Previous Weekly High 0.6452
Previous Weekly Low 0.6372
Previous Monthly High 0.659
Previous Monthly Low 0.6283
Daily Fibonacci 38.2% 0.6312
Daily Fibonacci 61.8% 0.632
Daily Pivot Point S1 0.6288
Daily Pivot Point S2 0.6275
Daily Pivot Point S3 0.6252
Daily Pivot Point R1 0.6324
Daily Pivot Point R2 0.6347
Daily Pivot Point R3 0.636

 

 

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