NZD/USD technical levels: Holds below 0.63, focus on Tuesday's close

NZD/USD on Monday created a bullish inside bar candle, signaling seller exhaustion at four-year lows.
A close above Monday's high is needed to confirm a bullish reversal.

Omkar Godbole FXStreet Contributor

NZD/USD is currently trading largely unchanged on the day near 0.6295, representing marginal losses on the day, having hit a high of 0.6302 in early Asian trading hours.

The pair is attempting gains amid the uptick in the US equity futures. As of writing, the S&P 500 futures are reporting a 0.28% gain.

Today's close pivotal

The pair created a bullish inside bar candlestick pattern on Monday. That candle is widely considered as an early warning of a potential bullish reversal, especially when it appears after prolonged sell-off or at multi-month lows.

In NZD's case, that candle has appeared at the lowest level since September 2015 and represents seller exhaustion.

A bullish reversal, however, could be confirmed only if the pair closes on Tuesday above the inside bar's high of 0.6299.

The bears, however, could make a strong comeback if the pair ends Tuesday below 0.6258 (Monday's low).

Daily chart

Trend: Bulls need close above 0.6299

Technical levels

NZD/USD

Overview
Today last price	0.6295
Today Daily Change	0.0000
Today Daily Change %	0.00
Today daily open	0.6295

Trends
Daily SMA20	0.6352
Daily SMA50	0.6469
Daily SMA100	0.6532
Daily SMA200	0.6655

Levels
Previous Daily High	0.63
Previous Daily Low	0.6258
Previous Weekly High	0.6392
Previous Weekly Low	0.6254
Previous Monthly High	0.659
Previous Monthly Low	0.6283
Daily Fibonacci 38.2%	0.6284
Daily Fibonacci 61.8%	0.6274
Daily Pivot Point S1	0.6269
Daily Pivot Point S2	0.6242
Daily Pivot Point S3	0.6227
Daily Pivot Point R1	0.6311
Daily Pivot Point R2	0.6326
Daily Pivot Point R3	0.6353

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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