- The NZD/USD’s pullback from the high of 0.6819 is somewhat discouraging, although the outlook remains bullish as long as the ascending trendline from Oct. 31 lows is intact.
- At press time, the pair is bouncing off from that trendline support, currently at 0.6747. A rebound from the trendline support and a break above 0.68 would imply that the pullback has ended and the rally, as signaled by the ascending 5- and 10-day EMAs, have resumed.
- The bullish tone may weaken, opening doors for a drop to 0.6690 (hourly chart support) if the trendline support is breached.
Hourly Chart
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Trend: Bearish below trendline support
NZD/USD
Overview:
Last Price: 0.6761
Daily change: 11 pips
Daily change: 0.163%
Daily Open: 0.675
Trends:
Daily SMA20: 0.6588
Daily SMA50: 0.6577
Daily SMA100: 0.666
Daily SMA200: 0.6908
Levels:
Daily High: 0.6802
Daily Low: 0.6741
Weekly High: 0.669
Weekly Low: 0.6513
Monthly High: 0.663
Monthly Low: 0.6424
Daily Fibonacci 38.2%: 0.6764
Daily Fibonacci 61.8%: 0.6779
Daily Pivot Point S1: 0.6727
Daily Pivot Point S2: 0.6704
Daily Pivot Point S3: 0.6667
Daily Pivot Point R1: 0.6787
Daily Pivot Point R2: 0.6824
Daily Pivot Point R3: 0.6847
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