The ascending 20-day moving average (MA) put a floor under the kiwi dollar yesterday, the outlook, however, would turn bullish only if the pair manages to clear the falling channel hurdle, currently at 0.6815.
4-hour chart
-636789696334624680.png)
- As seen above, the NZD/USD is trapped in a descending channel for a 12th straight day. A bull breakout, if confirmed, would signal a continuation of the rally from the Nov. 1 low of 0.6514 and could yield a break above the recent high of 0.6883.
Daily chart
-636789695273822803.png)
- Over on the daily chart, the pair has bounced off nicely from the ascending (bullish) 20-day MA. The prospects of falling channel breakout, however, would weaken sharply if the spot finds acceptance below the 20-day MA, currently at 0.6767.
Trend: Bullish after channel breakout
NZD/USD
Overview:
Today Last Price: 0.6795
Today Daily change: 3.0 pips
Today Daily change %: 0.0442%
Today Daily Open: 0.6792
Trends:
Previous Daily SMA20: 0.6752
Previous Daily SMA50: 0.6636
Previous Daily SMA100: 0.6658
Previous Daily SMA200: 0.6874
Levels:
Previous Daily High: 0.6811
Previous Daily Low: 0.6753
Previous Weekly High: 0.6876
Previous Weekly Low: 0.6767
Previous Monthly High: 0.663
Previous Monthly Low: 0.6424
Previous Daily Fibonacci 38.2%: 0.6789
Previous Daily Fibonacci 61.8%: 0.6775
Previous Daily Pivot Point S1: 0.676
Previous Daily Pivot Point S2: 0.6727
Previous Daily Pivot Point S3: 0.6702
Previous Daily Pivot Point R1: 0.6818
Previous Daily Pivot Point R2: 0.6843
Previous Daily Pivot Point R3: 0.6876
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