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   “¢   The pair continued with its struggle to make it through an important confluence resistance, comprising of 50-day SMA and a short-term descending trend-channel.

   “¢   Technical indicators on the daily chart have struggled to move into positive territory and indicate that the near-term up-move might have already started losing steam.

   “¢   However, a convincing break through the mentioned barrier will negate the bearish set-up and prompt some aggressive short-covering move in the near-term.

   “¢   Alternatively, weakness back below the key 0.6500 psychological mark will reinforce the negative outlook and turn the pair vulnerable to resume with its well-established bearish trend.
 

NZD/USD daily chart

NZD/USD

Overview:
       Last Price:  0.6542
       Daily change:  -12  pips
       Daily change:  -0.183%
       Daily Open:  0.6554
Trends:
       Daily SMA20:  0.652
       Daily SMA50:  0.6579
       Daily SMA100:  0.6678
       Daily SMA200:  0.6931
Levels:
       Daily High:  0.6574
       Daily Low:  0.652
       Weekly High:  0.6612
       Weekly Low:  0.6465
       Monthly High:  0.67
       Monthly Low:  0.6501
       Daily Fibonacci 38.2%:  0.6554
       Daily Fibonacci 61.8%:  0.6541
       Daily Pivot Point S1:  0.6525
       Daily Pivot Point S2:  0.6496
       Daily Pivot Point S3:  0.6471
       Daily Pivot Point R1:  0.6579
       Daily Pivot Point R2:  0.6604
       Daily Pivot Point R3:  0.6633