NZD/USD technical analysis: On its way to September 2015 low near 0.6235

NZD/USD declines to fresh low since September 2015 with bearish MACD.
The four-year low, near 0.6236, multi-month old falling trend-lines gain bears’ attention for now.

Anil Panchal FXStreet

NZD/USD extends its southward trajectory to multi-year low while flashing 0.6274 during early Tuesday’s Asian session.

Considering bearish signals from 12-bar moving average convergence and divergence (MACD) indicator, prices are likely declining towards September 2015 low of 0.6236 whereas a downward-sloping trend-line since May 2017, near 0.6170, will gain sellers attention then after.

In case prices keep trading southwards below 0.6170, the year 2015 bottom surrounding 0.6084 and another falling trend-line, since November 2017, around 0.6050 will be in the spotlight.

Alternatively, 0.6300 and January 2016 low near 0.6348/50 can please buyers during the pullback while October 2018 bottom close to 0.6425 and May month trough of 0.6481 could entertain bulls afterward.

NZD/USD weekly chart

Trend: bearish

additional important levels

Overview
Today last price	0.627
Today Daily Change	-38 pips
Today Daily Change %	-0.60%
Today daily open	0.6308

Trends
Daily SMA20	0.6409
Daily SMA50	0.6562
Daily SMA100	0.6577
Daily SMA200	0.6693

Levels
Previous Daily High	0.632
Previous Daily Low	0.629
Previous Weekly High	0.6404
Previous Weekly Low	0.6283
Previous Monthly High	0.659
Previous Monthly Low	0.6283
Daily Fibonacci 38.2%	0.6301
Daily Fibonacci 61.8%	0.6308
Daily Pivot Point S1	0.6292
Daily Pivot Point S2	0.6275
Daily Pivot Point S3	0.6261
Daily Pivot Point R1	0.6322
Daily Pivot Point R2	0.6336
Daily Pivot Point R3	0.6353

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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