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   “¢   The pair trimmed a part of its post-RBNZ strong gains and has now retreated to 38.2% Fibonacci retracement level of the intraday upsurge of over 125-pips.

   “¢   Weakness back below 200-hour SMA was seen as a key trigger for behind the pair’s latest leg of downtick following the release of slightly better US CPI report.

   “¢   Meanwhile, the intraday corrective slide has been along a descending trend-channel, which constitutes towards the formation of a bullish continuation flag chart pattern.

   “¢   Oscillators on 4-hourly/daily charts maintained their bullish bias and have also eased from overbought conditions on the 1-hourly chart, pointing to some dip-buying interest.

   “¢   Hence, any subsequent slide seems more likely to be seen as a buying opportunity and should find decent support near 50% Fibonacci level, around the 0.6790 region.

NZD/USD 1-hourly chart

NZD/USD

Overview:
       Today Last Price:  0.6807
       Today Daily change %:  1.01%
       Today Daily Open:  0.6739
Trends:
       Daily SMA20:  0.6805
       Daily SMA50:  0.6791
       Daily SMA100:  0.6726
       Daily SMA200:  0.6755
Levels:
       Previous Daily High:  0.6745
       Previous Daily Low:  0.6719
       Previous Weekly High:  0.6907
       Previous Weekly Low:  0.6729
       Previous Monthly High:  0.694
       Previous Monthly Low:  0.6516
       Daily Fibonacci 38.2%:  0.6735
       Daily Fibonacci 61.8%:  0.6729
       Daily Pivot Point S1:  0.6724
       Daily Pivot Point S2:  0.6708
       Daily Pivot Point S3:  0.6698
       Daily Pivot Point R1:  0.675
       Daily Pivot Point R2:  0.676
       Daily Pivot Point R3:  0.6776