NZD/USD Technical Analysis: Corrective rally eyes break above 0.66

The bullish divergence of the hourly RSI and a break above the 50-hour moving average (MA) and 100-hour MA indicates the NZD/USD could rise above 0.66 today.
The positive hourly chart setup adds credence to oversold conditions reported by the 14-day RSI.

Omkar Godbole FXStreet Contributor

Hourly chart

Spot Rate: 0.6588

Daily High: 0.6590

Daily Low: 0.6557

Trend: Bullish

Resistance

R1: 0.66 (psychological level)

R2: 0.6618 (resistance as per the hourly chart)

R3: 0.6647 (200-hour moving average)

Support

S1: 0.6580 (100-hour moving average)

S2: 0.6573 (50-hour moving average)

S3: 0.6556 (support as per the hourly chart)

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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