- The NZD/USD has charted a bull flag on the 4-hour chart – a bullish continuation pattern – that is, a break above the upper edge of the flag would signal a resumption of the rally from the Nov. 12 low of 0.6707 and would open up upside toward 0.7022 (target as per the measured height method).
- The bull breakout looks likely as the stacking order of the 50-candle MA, above the 100-candle MA, above the 200-candle MA indicates the path of least resistance is on the higher side.
- The probability of bullish breakout would drop sharply if spot finds acceptance below 0.6782 (Nov. 20 low).
4-Hour Chart
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Trend: Bullish
NZD/USD
Overview:
Last Price: 0.6811
Daily change: -21 pips
Daily change: -0.307%
Daily Open: 0.6832
Trends:
Daily SMA20: 0.67
Daily SMA50: 0.6619
Daily SMA100: 0.666
Daily SMA200: 0.6886
Levels:
Daily High: 0.6854
Daily Low: 0.6782
Weekly High: 0.6884
Weekly Low: 0.6706
Monthly High: 0.663
Monthly Low: 0.6424
Daily Fibonacci 38.2%: 0.6827
Daily Fibonacci 61.8%: 0.681
Daily Pivot Point S1: 0.6791
Daily Pivot Point S2: 0.675
Daily Pivot Point S3: 0.6718
Daily Pivot Point R1: 0.6863
Daily Pivot Point R2: 0.6895
Daily Pivot Point R3: 0.6936
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