NZD/USD Technical Analysis: Flag breakout seen on 15-min chart

Omkar Godbole FXStreet Contributor

NZD/USD could jump 30 odd pips to 0.68 in the next few hours, according to the bull flag breakout seen in the 15-minute chart.

That pattern usually accelerates the preceding bullish move and creates room for a move equal to the height of the pole. The pair, therefore, may chew through supply, if any, around 0.68 and extend gains to 0.6821 (target as per the measured move method). The 15-min relative strength index (RSI) of 56.00 is also supporting the bullish case put forward by the flag breakout.

The bullish outlook would be invalidated below 0.6760.

15-minute chart

Trend: Bullish

NZD/USD

Overview
Today last price	0.677
Today Daily Change	0.0006
Today Daily Change %	0.09
Today daily open	0.6764

Trends
Daily SMA20	0.6805
Daily SMA50	0.6817
Daily SMA100	0.6808
Daily SMA200	0.6734

Levels
Previous Daily High	0.6783
Previous Daily Low	0.6713
Previous Weekly High	0.6783
Previous Weekly Low	0.6713
Previous Monthly High	0.6939
Previous Monthly Low	0.6744
Daily Fibonacci 38.2%	0.6756
Daily Fibonacci 61.8%	0.674
Daily Pivot Point S1	0.6724
Daily Pivot Point S2	0.6683
Daily Pivot Point S3	0.6654
Daily Pivot Point R1	0.6793
Daily Pivot Point R2	0.6823
Daily Pivot Point R3	0.6863

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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