“¢ A slightly upbeat NZ CPI report assisted the pair to build on the previous session’s goodish rebound from over two-week lows and continue gaining traction for the second straight session.
“¢ The positive momentum over the past 12-hours or so helped the pair to decisively breakthrough a one-week-old descending trend-channel and rally to the 0.6800 neighborhood or multi-day tops.
“¢ Technical indicators on the 1-hourly chart are already pointing to slightly overbought conditions warranting some consolidation, especially after the latest leg of an upsurge of nearly 100-pips.
“¢ However, oscillators on 4-hourly/daily charts have just started gaining bullish traction, supporting prospects for some fresh technical buying and an extension of the intraday positive move.
NZD/USD 1-hourly chart
NZD/USD
Overview:
Today Last Price: 0.6782
Today Daily change %: 0.91%
Today Daily Open: 0.6721
Trends:
Daily SMA20: 0.6746
Daily SMA50: 0.6796
Daily SMA100: 0.6691
Daily SMA200: 0.6776
Levels:
Previous Daily High: 0.6735
Previous Daily Low: 0.6706
Previous Weekly High: 0.685
Previous Weekly Low: 0.6727
Previous Monthly High: 0.697
Previous Monthly Low: 0.6686
Daily Fibonacci 38.2%: 0.6717
Daily Fibonacci 61.8%: 0.6724
Daily Pivot Point S1: 0.6706
Daily Pivot Point S2: 0.6692
Daily Pivot Point S3: 0.6677
Daily Pivot Point R1: 0.6735
Daily Pivot Point R2: 0.675
Daily Pivot Point R3: 0.6764