“¢ Barring a modest uptick earlier this week, the pair has been correcting from 5-1/2 month tops along with a short-term descending trend-channel since the beginning of this month.
“¢ Technical indicators on hourly/daily charts have been gaining negative momentum and are still far from being in oversold territory, suggesting an extension of the ongoing downfall.
“¢ Hence, a follow-through weakness, toward testing 50% Fibonacci retracement level of the 0.6425-0.6970 upsurge amid the prevalent risk-off mood, looks a distinct possibility.
NZD/USD 1-hourly chart
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NZD/USD
Overview:
Today Last Price: 0.6738
Today Daily change: -40 pips
Today Daily change %: -0.590%
Today Daily Open: 0.6778
Trends:
Previous Daily SMA20: 0.6847
Previous Daily SMA50: 0.6734
Previous Daily SMA100: 0.667
Previous Daily SMA200: 0.6838
Levels:
Previous Daily High: 0.6816
Previous Daily Low: 0.6724
Previous Weekly High: 0.6912
Previous Weekly Low: 0.6778
Previous Monthly High: 0.6887
Previous Monthly Low: 0.6514
Previous Daily Fibonacci 38.2%: 0.6759
Previous Daily Fibonacci 61.8%: 0.6781
Previous Daily Pivot Point S1: 0.673
Previous Daily Pivot Point S2: 0.6681
Previous Daily Pivot Point S3: 0.6638
Previous Daily Pivot Point R1: 0.6822
Previous Daily Pivot Point R2: 0.6865
Previous Daily Pivot Point R3: 0.6914
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