NZD/USD technical analysis: Breaks above 50-hour MA hurdle

NZD/USD is currently trading above the 50-hour MA hurdle of 0.6582.
With the hourly chart biased bullish, the pair looks set to rise above 0.66 in the next few hours.

Omkar Godbole FXStreet Contributor

NZD/USD moved above the 50-hour moving average (MA) resistance of 0.6582 soon before press time, having built a base around 0.6566 over the last 24 hours.

The pair will likely find acceptance above the 50-hour MA and rise toward the 200-hour MA, currently located at 0.6604, in the next few hours, as the hourly chart relative strength index (RSI) is now reporting bullish conditions with an above-50 print. The indicator created a bullish divergence - higher low as opposed to a lower low on the price - on Wednesday.

The case for a rise to the 200-hour MA would weaken if the pair finds acceptance below 0.6566. That would invalidate the bullish divergence on the hourly chart RSI.

Hourly chart

Trend: Bullish

Technical levels

NZD/USD

Overview
Today last price	0.6586
Today Daily Change	0.0007
Today Daily Change %	0.11
Today daily open	0.6574

Trends
Daily SMA20	0.656
Daily SMA50	0.6623
Daily SMA100	0.6727
Daily SMA200	0.671

Levels
Previous Daily High	0.6594
Previous Daily Low	0.6566
Previous Weekly High	0.6682
Previous Weekly Low	0.6528
Previous Monthly High	0.6684
Previous Monthly Low	0.6481
Daily Fibonacci 38.2%	0.6577
Daily Fibonacci 61.8%	0.6583
Daily Pivot Point S1	0.6562
Daily Pivot Point S2	0.655
Daily Pivot Point S3	0.6534
Daily Pivot Point R1	0.659
Daily Pivot Point R2	0.6606
Daily Pivot Point R3	0.6618

Author

Omkar Godbole

FXStreet Contributor

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

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