NZD/USD Technical Analysis: Hits over 2-week tops, eyeing 0.6800 mark ahead of FOMC minutes

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   •  The overnight retracement slide managed to find decent support near 100-hour SMA, with bulls pushing the pair further beyond mid-0.6700s to over two-week tops in the last hour.

   •  The positive momentum finally seems to have found acceptance above 50% Fibonacci retracement of the early Dec. to early Jan. downfall, supporting prospects for additional gains. 

   •  Technical indicators on hourly/daily chart have been gaining traction within the bullish territory and further add credence to the near-term constructive outlook for the pair.

   •  Hence, a follow-through up-move, towards test 61.8% Fibonacci retracement level, near the 0.6800 handle, now looks a distinct possibility ahead of the FOMC meeting minutes.

NZD/USD 1-hourly chart

NZD/USD

Overview:
    Today Last Price: 0.6774
    Today Daily change: 50 pips
    Today Daily change %: 0.744%
    Today Daily Open: 0.6724
Trends:
    Previous Daily SMA20: 0.6752
    Previous Daily SMA50: 0.6779
    Previous Daily SMA100: 0.6679
    Previous Daily SMA200: 0.6804
Levels:
    Previous Daily High: 0.6761
    Previous Daily Low: 0.6707
    Previous Weekly High: 0.6843
    Previous Weekly Low: 0.6516
    Previous Monthly High: 0.697
    Previous Monthly Low: 0.6686
    Previous Daily Fibonacci 38.2%: 0.6728
    Previous Daily Fibonacci 61.8%: 0.674
    Previous Daily Pivot Point S1: 0.67
    Previous Daily Pivot Point S2: 0.6677
    Previous Daily Pivot Point S3: 0.6646
    Previous Daily Pivot Point R1: 0.6754
    Previous Daily Pivot Point R2: 0.6784
    Previous Daily Pivot Point R3: 0.6808

 

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