- The Kiwi continues to decline from early Tuesday’s spike on better-than-expected CPI for New Zealand, and the NZD/USD is easing back after reaching overbought levels on the macro bump.
- The NZD’s fresh high for the week is helping to mark in a new swing high for the pair with higher lows beginning to form up from October 8th’s bottom at 0.6425, but the 200-hour moving average is beginning to roll over into a bullish trend, implying improving odds of a pullback to the major average before a consistent leg higher.
- A decline back past the week’s low on the wrong side of 0.6500 could see the NZD/USD’s bullish stance get challenged by broader market sentiment, which remains closely tied to risk flows into and out of the US Dollar.
NZD/USD
Overview:
Last Price: 0.657
Daily change: 19 pips
Daily change: 0.290%
Daily Open: 0.6551
Trends:
Daily SMA20: 0.6567
Daily SMA50: 0.6598
Daily SMA100: 0.6729
Daily SMA200: 0.697
Levels:
Daily High: 0.6558
Daily Low: 0.6494
Weekly High: 0.6534
Weekly Low: 0.6424
Monthly High: 0.67
Monthly Low: 0.6424
Daily Fibonacci 38.2%: 0.6533
Daily Fibonacci 61.8%: 0.6519
Daily Pivot Point S1: 0.6511
Daily Pivot Point S2: 0.6471
Daily Pivot Point S3: 0.6448
Daily Pivot Point R1: 0.6574
Daily Pivot Point R2: 0.6597
Daily Pivot Point R3: 0.6637
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