NZD/USD Technical Analysis: Turns lower for the fourth straight session, bears eyeing a break below 100-DMA support

Haresh Menghani FXStreet

• The pair failed to capitalize on the early attempted bounce and has now drifted into the negative territory for the fourth consecutive session, back closer to 2-1/2 week lows set on Friday.

• The pair's inability to sustain intraday move beyond 100-day EMA, coupled with the bearish tone for the sixth session in the previous seven clearly points to persistent selling bias at higher levels.

• Bearish technical indicators on hourly/daily charts support prospects for an extension of the recent bearish trajectory, which will be further reinforced once the 100-day SMA support is broken.

• Weakness below the mentioned support might turn the pair vulnerable to break through the 0.6700 handle and aim towards testing 2019 daily closing lows support, around the 0.6655 region.

NZD/USD daily chart

NZD/USD

Overview:
    Today Last Price: 0.6738
    Today Daily change %: -0.16%
    Today Daily Open: 0.6749
Trends:
    Daily SMA20: 0.6813
    Daily SMA50: 0.6799
    Daily SMA100: 0.6724
    Daily SMA200: 0.6757
Levels:
    Previous Daily High: 0.6767
    Previous Daily Low: 0.6729
    Previous Weekly High: 0.6907
    Previous Weekly Low: 0.6729
    Previous Monthly High: 0.694
    Previous Monthly Low: 0.6516
    Daily Fibonacci 38.2%: 0.6744
    Daily Fibonacci 61.8%: 0.6752
    Daily Pivot Point S1: 0.673
    Daily Pivot Point S2: 0.671
    Daily Pivot Point S3: 0.6692
    Daily Pivot Point R1: 0.6768
    Daily Pivot Point R2: 0.6786
    Daily Pivot Point R3: 0.6806

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

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