NZD/USD Technical Analysis: Finds some support near 100-DMA/ascending trend-line confluence region


   •  The pair extended this week’s rejection slide from the 0.6900 handle and remained under some heavy bearish pressure for the third consecutive session.

   •  The overnight slide below 200-hour SMA confirmed a bearish double-top reversal chart pattern and the downfall accelerated further after RBNZ’s rate cut hint.

NZD/USD 1-hourly chart

   •  The pair dropped to test 100-day SMA support, albeit slightly oversold conditions on the 1-hourly chart turned out to be the only factor helping limit deeper losses.

   •  Meanwhile, oscillators on the daily chart have just started gaining negative momentum and seemed to suggest an extension of the recent downward trajectory.

   •  Sustained weakness below the mentioned support, coinciding with near five-month-old ascending trend-line would pave the way for further depreciating move.

Daily chart



    Today Last Price: 0.6776
    Today Daily change %: -0.53%
    Today Daily Open: 0.6812
    Daily SMA20: 0.6835
    Daily SMA50: 0.6787
    Daily SMA100: 0.6744
    Daily SMA200: 0.6752
    Previous Daily High: 0.6878
    Previous Daily Low: 0.6797
    Previous Weekly High: 0.6875
    Previous Weekly Low: 0.6719
    Previous Monthly High: 0.694
    Previous Monthly Low: 0.6516
    Daily Fibonacci 38.2%: 0.6828
    Daily Fibonacci 61.8%: 0.6847
    Daily Pivot Point S1: 0.678
    Daily Pivot Point S2: 0.6748
    Daily Pivot Point S3: 0.6699
    Daily Pivot Point R1: 0.6861
    Daily Pivot Point R2: 0.691
    Daily Pivot Point R3: 0.6942


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