NZD/USD Technical Analysis: chipping away at the 200-HMA hurdle

Omkar Godbole FXStreet Contributor

The NZD/USD pair is struggling to clear the 200-hour moving average (HMA) hurdle, having rallied more than 150 pips in the last six days.

Hourly chart

As seen above, the pair has charted bullish-higher lows and higher highs pattern. The 50-hour MA is trending north in favor of the bulls, having cut the 100-hour MA from below (bullish crossover). The pair is still having a tough time the 200-HMA in a convincing manner. As of writing, that HMA is located at 0.6755.
Notably, the outlook remains bearish while the pair is trading below 0.68.

4-hour chart

On the 4-hour chart, the pair is still trading in bearish territory below 0.68 - neckline of the head-and-shoulders pattern.
NZD/USD has also charted a bearish-lower high and lower low pattern. Further, 50-, 100-, and 200-candle MAs are sloping downwards in favor of the bears.

Trend: bearish

NZD/USD

Overview:
    Today Last Price: 0.6753
    Today Daily change: -1.0 pips
    Today Daily change %: -0.0148%
    Today Daily Open: 0.6754
Trends:
    Previous Daily SMA20: 0.676
    Previous Daily SMA50: 0.6775
    Previous Daily SMA100: 0.6679
    Previous Daily SMA200: 0.6806
Levels:
    Previous Daily High: 0.6768
    Previous Daily Low: 0.6728
    Previous Weekly High: 0.6843
    Previous Weekly Low: 0.6516
    Previous Monthly High: 0.697
    Previous Monthly Low: 0.6686
    Previous Daily Fibonacci 38.2%: 0.6753
    Previous Daily Fibonacci 61.8%: 0.6743
    Previous Daily Pivot Point S1: 0.6732
    Previous Daily Pivot Point S2: 0.671
    Previous Daily Pivot Point S3: 0.6692
    Previous Daily Pivot Point R1: 0.6772
    Previous Daily Pivot Point R2: 0.679
    Previous Daily Pivot Point R3: 0.6812

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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