“¢ The pair climbed to 3-1/2 month tops in the last hour and now seems to have found acceptance above 38.2% Fibonacci retracement level of the 0.7395-0.6424 April-Oct. downfall.
“¢ Last week’s move beyond a confluence hurdle – comprising of 100-day SMA and 23.6% Fibonacci retracement level was seen as a key trigger for bullish traders.
“¢ Technical indicators on the daily chart are holding in bullish territory, and are still far from being in the overbought zone, and support prospects for further near-term up-move.
“¢ A follow-through move beyond the 0.6840-50 supply zone will add credence to the constructive outlook and lift the pair towards another confluence hurdle – 200-day SMA and 50% Fibo. level.
NZD/USD daily chart
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NZD/USD
Overview:
Last Price: 0.6819
Daily change: 22 pips
Daily change: 0.324%
Daily Open: 0.6797
Trends:
Daily SMA20: 0.6629
Daily SMA50: 0.659
Daily SMA100: 0.6656
Daily SMA200: 0.6896
Levels:
Daily High: 0.681
Daily Low: 0.6756
Weekly High: 0.682
Weekly Low: 0.6632
Monthly High: 0.663
Monthly Low: 0.6424
Daily Fibonacci 38.2%: 0.679
Daily Fibonacci 61.8%: 0.6777
Daily Pivot Point S1: 0.6765
Daily Pivot Point S2: 0.6733
Daily Pivot Point S3: 0.671
Daily Pivot Point R1: 0.682
Daily Pivot Point R2: 0.6843
Daily Pivot Point R3: 0.6875
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