“¢ The pair showed some resilience below 50-hour SMA and stalled the overnight retracement slide from near six-week tops following the release of upbeat NZ trade balance data.
“¢ The prevalent dip-buying interest was further supported by the fact that the pair has managed to hold comfortably above other important intraday moving average – 100 & 200-hour SMAs.
“¢ Moreover, technical indicators on hourly/daily charts maintained their bullish bias and a subsequent momentum beyond mid-0.6800s will further reinforce the constructive outlook.
“¢ A follow-through buying has the potential to lift the pair, beyond multi-week tops, towards reclaiming the 0.6900 handle en-route the 0.6930-40 supply zone and Dec. 2018 swing high.
NZD/USD 1-hourly chart
NZD/USD
Overview:
Today Last Price: 0.6843
Today Daily change %: 0.16%
Today Daily Open: 0.6832
Trends:
Daily SMA20: 0.6766
Daily SMA50: 0.6794
Daily SMA100: 0.6701
Daily SMA200: 0.6767
Levels:
Previous Daily High: 0.6873
Previous Daily Low: 0.6824
Previous Weekly High: 0.6852
Previous Weekly Low: 0.6706
Previous Monthly High: 0.697
Previous Monthly Low: 0.6686
Daily Fibonacci 38.2%: 0.6854
Daily Fibonacci 61.8%: 0.6843
Daily Pivot Point S1: 0.6813
Daily Pivot Point S2: 0.6794
Daily Pivot Point S3: 0.6764
Daily Pivot Point R1: 0.6862
Daily Pivot Point R2: 0.6892
Daily Pivot Point R3: 0.6911