NZD/USD again pulls back from 38.2% Fibonacci retracement. 100-day EMA, September month high becomes the key confluence to watch during further upside. 50-day EMA acts as nearby support. Having registered another failure to cross 38.2% Fibonacci retracement of July-October declines, the NZD/USD pair declines to 0.6417 during early Thursday. The pair now indicates a re-test of a 50-day Exponential Moving Average (EMA) level of 0.6374, a break of which can strength bears to target 23.6% Fibonacci retracement level around 0.6340 and 0.6300 round-figure. Alternatively, pair’s sustained break above 38.2% Fibonacci retracement, at 0.6431, will accelerate the run-up to 0.6448/52 resistance-confluence including 100-day EMA and September month high. That said, the buyers could target 50% and 61.8% Fibonacci retracement levels, near 0.6500 and 0.6570 respectively, during the pair’s further upside beyond 0.6452. It should also be noted that momentum indicators like 14-bar Relative Strength Index (RSI) and 12-bar Moving Average Convergence and Divergence (MACD) are in support of further upside. NZD/USD daily chart Trend: pullback expected 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. View All Post By FX Street FXStreet News share Read Next Fed to cut rates on Oct 30 and again in Q1 2020 – Reuters Poll FX Street 3 years NZD/USD again pulls back from 38.2% Fibonacci retracement. 100-day EMA, September month high becomes the key confluence to watch during further upside. 50-day EMA acts as nearby support. Having registered another failure to cross 38.2% Fibonacci retracement of July-October declines, the NZD/USD pair declines to 0.6417 during early Thursday. The pair now indicates a re-test of a 50-day Exponential Moving Average (EMA) level of 0.6374, a break of which can strength bears to target 23.6% Fibonacci retracement level around 0.6340 and 0.6300 round-figure. Alternatively, pair's sustained break above 38.2% Fibonacci retracement, at 0.6431, will accelerate the run-up to 0.6448/52 resistance-confluence… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
