NZD/USD Technical Analysis: 200-day MA is again capping upside
FXStreet News

NZD/USD Technical Analysis: 200-day MA is again capping upside

  • Powell’s dovish comments and the resulting USD sell-off pushed the NZD/USD pair above the falling channel hurdle yesterday. The bull breakout indicates the path of least resistance is to the higher side. The 200-day moving average (MA) hurdle, however, is putting brakes on the rally for the second time in two weeks.

4-hour chart

  • The descending channel breakout seen in the chart indicates a  resumption of the rally from the Nov. 11 low of 0.6514.

Daily chart

  • As seen above, the pair is struggling to muster enough momentum to convincingly beat the 200-day moving average resistance of 0.6866. A daily close above that level would only bolster the already bullish technical setup, as represented by the falling channel breakout on the 4-hour chart, higher highs and higher lows, and the ascending 20-day MA.
  • The bullish setup would be invalidated if the pair closes below the 20-day MA.

Trend: Bullish


       Today Last Price:  0.686
       Today Daily change:  -13  pips
       Today Daily change %:  -0.189%
       Today Daily Open:  0.6873
       Previous Daily SMA20:  0.677
       Previous Daily SMA50:  0.6642
       Previous Daily SMA100:  0.6659
       Previous Daily SMA200:  0.6872
       Previous Daily High:  0.6887
       Previous Daily Low:  0.6774
       Previous Weekly High:  0.6876
       Previous Weekly Low:  0.6767
       Previous Monthly High:  0.663
       Previous Monthly Low:  0.6424
       Previous Daily Fibonacci 38.2%:  0.6844
       Previous Daily Fibonacci 61.8%:  0.6818
       Previous Daily Pivot Point S1:  0.6803
       Previous Daily Pivot Point S2:  0.6732
       Previous Daily Pivot Point S3:  0.669
       Previous Daily Pivot Point R1:  0.6916
       Previous Daily Pivot Point R2:  0.6958
       Previous Daily Pivot Point R3:  0.7028


FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.