NZD/USD technical analysis: Immediate falling trend-line questions 0.6440/39 support

The 4-day old descending trend-line questions the NZD/USD pair’s repeated bounces off 0.6440/39 horizontal support.
100-hour EMA can challenge upside break while 0.6378 seems near-term strong support.

Anil Panchal FXStreet

NZD/USD keeps struggling between a 2-day old horizontal support and an immediate descending resistance-line while taking rounds to 0.6450 ahead of Tuesday’s European session.

Should prices manage to rise past-0.6455 resistance-line 100-hour exponential moving average (EMA) near 0.6475 can challenge additional upside, if not then 0.6500 can flash on the chart.

Meanwhile, a downside break of 0.6440/39 support could recall 0.6410 and 0.6378 on sellers’ radar.

In a case, the quote slips under 0.6378, the year 2016 low near 0.6348 can offer an intermediate halt to pair’s plunge towards sub-0.6300 support.

NZD/USD hourly chart

Trend: Bearish

1. R3 0.6503
2. R2 0.6489
3. R1 0.6467
PP 0.6453
1. S1 0.6431
2. S2 0.6417
3. S3 0.6395

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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