NZD/USD technical analysis: Bounces off 200-bar EMA, 38.2% Fibo.


  • NZD/USD recovers from multi-day low amid a U-turn in oversold RSI.
  • 23.6% Fibonacci retracement seems to be the immediate resistance to watch.

Having failed to slip beneath the key support confluence, NZD/USD recovers to 0.6355 during early Monday.

The quote now has to clear 23.6% Fibonacci retracement of current month upside, at 0.6385 to extend the pullback towards monthly top near 0.6440.

In a case where prices keep being strong above 0.6440, September month high of 0.6452 will be the key to follow.

On the downside, pair’s sustained declines below 0.6350/45 support-confluence including 200-bar Exponential Moving Average (EMA) and 38.2% Fibonacci retracement could recall sellers targeting 0.6320 and 0.6300 rest-points.

Though, the pair’s extended downturn beneath 0.6300 seems to pave the way for 0.6240 support.

It’s worth noting that the 14-bar Relative Strength Index (RSI) is near to oversold territory and favors the pair’s gradual recovery.

NZD/USD 4-hour chart

Trend: pullback expected

additional important levels

Overview
Today last price 0.6355
Today Daily Change 6 pips
Today Daily Change % 0.09%
Today daily open 0.6349
 
Trends
Daily SMA20 0.6325
Daily SMA50 0.6343
Daily SMA100 0.6474
Daily SMA200 0.6603
 
Levels
Previous Daily High 0.6388
Previous Daily Low 0.6347
Previous Weekly High 0.6437
Previous Weekly Low 0.6347
Previous Monthly High 0.6452
Previous Monthly Low 0.6249
Daily Fibonacci 38.2% 0.6363
Daily Fibonacci 61.8% 0.6373
Daily Pivot Point S1 0.6335
Daily Pivot Point S2 0.632
Daily Pivot Point S3 0.6293
Daily Pivot Point R1 0.6376
Daily Pivot Point R2 0.6403
Daily Pivot Point R3 0.6418

 

 

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