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NZD/USD Technical Analysis: Defending key trendline support

  • The NZD/USD’s pullback from the high of 0.6819 is somewhat discouraging, although the outlook remains bullish as long as the ascending trendline from Oct. 31 lows is intact.
  • At press time, the pair is bouncing off from that trendline support, currently at 0.6747. A rebound from the trendline support and a break above 0.68 would imply that the pullback has ended and the rally, as signaled by the ascending 5- and 10-day EMAs, have resumed.
  • The bullish tone may weaken, opening doors for a drop to 0.6690 (hourly chart support) if the trendline support is breached.

Hourly Chart

Trend: Bearish below trendline support

NZD/USD

Overview:
    Last Price: 0.6761
    Daily change: 11 pips
    Daily change: 0.163%
    Daily Open: 0.675
Trends:
    Daily SMA20: 0.6588
    Daily SMA50: 0.6577
    Daily SMA100: 0.666
    Daily SMA200: 0.6908
Levels:
    Daily High: 0.6802
    Daily Low: 0.6741
    Weekly High: 0.669
    Weekly Low: 0.6513
    Monthly High: 0.663
    Monthly Low: 0.6424
    Daily Fibonacci 38.2%: 0.6764
    Daily Fibonacci 61.8%: 0.6779
    Daily Pivot Point S1: 0.6727
    Daily Pivot Point S2: 0.6704
    Daily Pivot Point S3: 0.6667
    Daily Pivot Point R1: 0.6787
    Daily Pivot Point R2: 0.6824
    Daily Pivot Point R3: 0.6847

 

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