NZD/USD Technical Analysis: Flashing red for third day, eyes rising wedge breakdown


  • NZD/USD's daily chart shows a bearish reversal candlestick pattern. 
  • The pair is also teasing a rising wedge breakdown. 

NZD/USD is currently trading at 0.6367, representing a marginal loss on the day, having dropped 0.37% and 0.42% on Monday and Tuesday, respectively. 

On Monday, the pair faced rejection at the 100-day moving average (MA) and created a bearish outside day candle. The bearish reversal signaled by Monday's candle was confirmed by Tuesday's bearish follow-through. 

The daily chart also shows a rising wedge breakdown, a sign the bounce from 0.6204 has ended and the bears have regained control. The pair, therefore, could drop to 0.6269 (Sept. 3 low) and may extend losses to 0.6241 (Oct.16 low). 

On the higher side, a close above the 100-day MA at 0.6459 is needed to confirm a bullish reversal. 

Daily chart

Trend: Bearish

Technical levels

NZD/USD

Overview
Today last price 0.6367
Today Daily Change -0.0017
Today Daily Change % -0.27
Today daily open 0.6384
 
Trends
Daily SMA20 0.6362
Daily SMA50 0.6342
Daily SMA100 0.6462
Daily SMA200 0.6589
 
Levels
Previous Daily High 0.6432
Previous Daily Low 0.6371
Previous Weekly High 0.6458
Previous Weekly Low 0.6333
Previous Monthly High 0.6437
Previous Monthly Low 0.6204
Daily Fibonacci 38.2% 0.6394
Daily Fibonacci 61.8% 0.6409
Daily Pivot Point S1 0.6359
Daily Pivot Point S2 0.6335
Daily Pivot Point S3 0.6298
Daily Pivot Point R1 0.642
Daily Pivot Point R2 0.6457
Daily Pivot Point R3 0.6481

 

 

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