NZD/USD Technical Analysis: bull flag on the hourly

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The NZD/USD pair has charted a bull flag on the hourly chart. A breakout could accelerate the preceding bullish trend and allow a test of supply around the crucial falling trendline hurdle above 0.68. 

Hourly chart

  • A bull flag breakout, if confirmed, would open up upside toward 0.6860 (target as per the measured move method, that is, pole height added to breakout price). 
  • Put simply, the flag breakout would boost the prospects of a convincing move above the trendline connecting the Dec. 4 and Jan. 15 highs. As of writing, the NZD/USD pair is trading at 0.6766 and the trendline hurdle is located at 0.6807. 

Trend: bullish after flag breakout

NZD/USD

Overview:
    Today Last Price: 0.6767
    Today Daily change: 1 pip
    Today Daily change %: 0.01%
    Today Daily Open: 0.6766
Trends:
    Daily SMA20: 0.6752
    Daily SMA50: 0.6795
    Daily SMA100: 0.6695
    Daily SMA200: 0.6771
Levels:
    Previous Daily High: 0.6807
    Previous Daily Low: 0.6755
    Previous Weekly High: 0.685
    Previous Weekly Low: 0.6727
    Previous Monthly High: 0.697
    Previous Monthly Low: 0.6686
    Daily Fibonacci 38.2%: 0.6775
    Daily Fibonacci 61.8%: 0.6787
    Daily Pivot Point S1: 0.6745
    Daily Pivot Point S2: 0.6724
    Daily Pivot Point S3: 0.6693
    Daily Pivot Point R1: 0.6797
    Daily Pivot Point R2: 0.6828
    Daily Pivot Point R3: 0.6849

 

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