NZD/USD Technical Analysis: Climbs to 4-month tops, inching closer to 200-DMA


  • NZD/USD added to the overnight gains and climbs further beyond 0.6500 mark.
  • The technical set-up supports prospects for an extension of the positive move.

The NZD/USD pair added to the previous session's strong positive move and gained some follow-through traction on Tuesday, climbing further beyond the key 0.6500 psychological mark to near four-month tops.

Given the overnight sustained move above 100-day SMA and a subsequent breakthrough a horizontal resistance, the technical set-up remains tilted in favour of bullish traders and support prospects for additional gains.

Meanwhile, technical indicators on hourly charts are already flashing overbought conditions. Adding to this, oscillators on the daily chart have also moved on the verge of breaking into overbought territory and warrant some caution.

Hence, any further positive move might confront stiff resistance and remain capped near the very important 200-day SMA, around the 0.6545-50 region.

On the flip side, any meaningful pullback now seems to attract some dip-buying interest near the horizontal resistance breakpoint, now turned support around the 0.6440 region and help limit the downside.

NZD/USD daily chart

fxsoriginal

NZD/USD

Overview
Today last price 0.6519
Today Daily Change 0.0013
Today Daily Change % 0.20
Today daily open 0.6506
 
Trends
Daily SMA20 0.6399
Daily SMA50 0.636
Daily SMA100 0.6414
Daily SMA200 0.6547
 
Levels
Previous Daily High 0.6512
Previous Daily Low 0.6424
Previous Weekly High 0.6439
Previous Weekly Low 0.6394
Previous Monthly High 0.6466
Previous Monthly Low 0.6321
Daily Fibonacci 38.2% 0.6478
Daily Fibonacci 61.8% 0.6458
Daily Pivot Point S1 0.645
Daily Pivot Point S2 0.6393
Daily Pivot Point S3 0.6362
Daily Pivot Point R1 0.6537
Daily Pivot Point R2 0.6568
Daily Pivot Point R3 0.6625

 

 

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