“¢ 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
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“¢ 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
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NZD/USD
Overview:
Today Last Price: 0.6776
Today Daily change %: -0.53%
Today Daily Open: 0.6812
Trends:
Daily SMA20: 0.6835
Daily SMA50: 0.6787
Daily SMA100: 0.6744
Daily SMA200: 0.6752
Levels:
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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