NZD/USD technical analysis: Rises further towards 10-week-old resistance line


  • 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

Overview
Today last price 0.6398
Today Daily Change 11 pips
Today Daily Change % 0.17%
Today daily open 0.6387
 
Trends
Daily SMA20 0.6301
Daily SMA50 0.6348
Daily SMA100 0.6485
Daily SMA200 0.6613
 
Levels
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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