NZD/USD Technical Analysis: Continuing rough channel lower amidst frequent upswings

The Kiwi is seeing another intraday cyclical rebound from lows near 0.6750 in a repeat of Monday's market action that saw the NZD/USD lurch to 0.6815 before bedding back down as broader market action saw overall flows push out of and then back into the US Dollar.

Joshua Gibson FXStreet

NZD/USD Chart, 5-Minute

The past two weeks shows the Kiwi steadily cycling lower in large swings, marking out a rough channel that threatens to lose momentum from a lateral swing low at the 0.6750 level.

NZD/USD Chart, 30-Minute

The past two months have seen the NZD/USD pair recover from medium-term lows at the 0.6440 level, but the last move towards the upside appears to have run out of momentum as the Kiwi becomes entangled in the 50-period moving average at the 0.6800 handle.

NZD/USD, 4-Hour

NZD/USD

Overview:
    Today Last Price: 0.6778
    Today Daily change: -7.0 pips
    Today Daily change %: -0.103%
    Today Daily Open: 0.6785
Trends:
    Previous Daily SMA20: 0.674
    Previous Daily SMA50: 0.6632
    Previous Daily SMA100: 0.6659
    Previous Daily SMA200: 0.6877
Levels:
    Previous Daily High: 0.6818
    Previous Daily Low: 0.6756
    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%: 0.6779
    Previous Daily Fibonacci 61.8%: 0.6794
    Previous Daily Pivot Point S1: 0.6755
    Previous Daily Pivot Point S2: 0.6724
    Previous Daily Pivot Point S3: 0.6693
    Previous Daily Pivot Point R1: 0.6816
    Previous Daily Pivot Point R2: 0.6848
    Previous Daily Pivot Point R3: 0.6878

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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