“¢ The pair remained under some selling pressure for the sixth straight session on Tuesday and the slide over the past one week has been along a descending trend-channel formation on the 1-hourly chart.
“¢ Technical indicators on hourly charts maintain their bearish stance and have just started gaining negative traction on the daily chart, clearly pointing a well-established near-term downward trajectory.
“¢ Moreover, the fact that the pair remains well below important intraday moving averages – 50, 100 & 200-hour SMA, add credence to the bearish outlook and further near-term depreciating move.
“¢ Hence, a follow-through selling below the 0.6700 handle should open the room for an extension of the recent downfall towards the trend-channel support, currently near the 0.6665-60 region.
NZD/USD 1-hourly chart
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NZD/USD
Overview:
Today Last Price: 0.672
Today Daily change: -0.0009 pips
Today Daily change %: -0.13%
Today Daily Open: 0.6729
Trends:
Daily SMA20: 0.6747
Daily SMA50: 0.6797
Daily SMA100: 0.6689
Daily SMA200: 0.678
Levels:
Previous Daily High: 0.6756
Previous Daily Low: 0.6713
Previous Weekly High: 0.685
Previous Weekly Low: 0.6727
Previous Monthly High: 0.697
Previous Monthly Low: 0.6686
Daily Fibonacci 38.2%: 0.6729
Daily Fibonacci 61.8%: 0.674
Daily Pivot Point S1: 0.6709
Daily Pivot Point S2: 0.669
Daily Pivot Point S3: 0.6666
Daily Pivot Point R1: 0.6752
Daily Pivot Point R2: 0.6775
Daily Pivot Point R3: 0.6795
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