- 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.
|Today last price||0.6367|
|Today Daily Change||-0.0017|
|Today Daily Change %||-0.27|
|Today daily open||0.6384|
|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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