- NZD/USD surges to fresh five-week high.
- A falling trend line since August 09 holds the key to 38.2% Fibonacci retracement, 100-day EMA.
- 50-day EMA limits immediate declines.
Sustained break of 50-day Exponential Moving Average (EMA) propels the NZD/USD pair towards near-term key resistance line as it takes the bids to 0.6400 amid early Monday.
With the 12-bar Moving Average Convergence and Divergence (MACD) indicating bullish signal, prices are likely to overcome 0.6405 immediate barrier.
As a result, 38.2% Fibonacci retracement of July-September declines, at 0.6430 and a 100-day EMA level of 0.6450 will become buyers’ favorites.
Meanwhile, pair’s declines below 50-day EMA level of 0.6368 can drag it back to 0.6350 and 23.6% Fibonacci retracement close to 0.6340. However, 0.6250 and 0.6200 will limit the pair’s further declines.
NZD/USD daily chart
Trend: pullback expected
additional important levels
|Today last price||0.6398|
|Today Daily Change||11 pips|
|Today Daily Change %||0.17%|
|Today daily open||0.6387|
|Previous Daily High||0.6391|
|Previous Daily Low||0.6342|
|Previous Weekly High||0.6391|
|Previous Weekly Low||0.624|
|Previous Monthly High||0.6452|
|Previous Monthly Low||0.6249|
|Daily Fibonacci 38.2%||0.6372|
|Daily Fibonacci 61.8%||0.6361|
|Daily Pivot Point S1||0.6356|
|Daily Pivot Point S2||0.6324|
|Daily Pivot Point S3||0.6307|
|Daily Pivot Point R1||0.6405|
|Daily Pivot Point R2||0.6422|
|Daily Pivot Point R3||0.6454|
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