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  • The NZD/USD is currently trading at 0.6648, having clocked a five-week high of 0.6666 a few minutes before press time.
  • The kiwi cleared the trendline falling from April highs and Sept. 26 highs yesterday, confirming a bearish-to-bullish trend change.
  • The pair closed yesterday at 0.6653, establishing a bullish higher lows and higher highs pattern. It has found acceptance above the 50-day exponential moving average (EMA). Further, the 5-, 10-day EMAs are beginning to roll over in favor of the bulls.
  • The 14-day relative strength index (RSI) and stochastics are printing bullish above 50.00 and looking north.
  • Hence, the spot could soon rise above 0.71, albeit after a minor pullback as the hourly chart is showing a bearish divergence of the RSI and stochastic.

Daily Chart

Hourly Chart

Trend: Bullish


       Last Price:  0.665
       Daily change:  -4.0  pips
       Daily change:  -0.0601%
       Daily Open:  0.6654
       Daily SMA20:  0.6529
       Daily SMA50:  0.6576
       Daily SMA100:  0.667
       Daily SMA200:  0.6924
       Daily High:  0.6664
       Daily Low:  0.6514
       Weekly High:  0.6612
       Weekly Low:  0.6465
       Monthly High:  0.663
       Monthly Low:  0.6424
       Daily Fibonacci 38.2%:  0.6607
       Daily Fibonacci 61.8%:  0.6571
       Daily Pivot Point S1:  0.6558
       Daily Pivot Point S2:  0.6462
       Daily Pivot Point S3:  0.6409
       Daily Pivot Point R1:  0.6707
       Daily Pivot Point R2:  0.676
       Daily Pivot Point R3:  0.6856