NZD/USD Technical Analysis: Awaits a bullish breakthrough descending trend-line/200-hour SMA
• The pair struggled to gain traction beyond a short-term descending trend-line resistance, held over the past one week or, and failed ahead of 200-hour SMA.
• Bullish technical indicators on hourly/daily charts support prospects for an eventually bullish breakout and hence, corrective dips are likely to be short-lived.
• Traders, however, are likely to wait for a convincing breakthrough the 200-hour SMA barrier before positioning for any near-term appreciating move.
• Meanwhile, a sustained weakness below the 0.6755-50 region - weekly lows, might negate the constructive outlook and prompt some fresh technical selling.
NZD/USD 1-hourly chart
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NZD/USD
Overview:
Today Last Price: 0.6797
Today Daily change: 12 pips
Today Daily change %: 0.177%
Today Daily Open: 0.6785
Trends:
Previous Daily SMA20: 0.674
Previous Daily SMA50: 0.6632
Previous Daily SMA100: 0.6659
Previous Daily SMA200: 0.6877
Levels:
Previous Daily High: 0.6818
Previous Daily Low: 0.6756
Previous Weekly High: 0.6876
Previous Weekly Low: 0.6767
Previous Monthly High: 0.663
Previous Monthly Low: 0.6424
Previous Daily Fibonacci 38.2%: 0.6779
Previous Daily Fibonacci 61.8%: 0.6794
Previous Daily Pivot Point S1: 0.6755
Previous Daily Pivot Point S2: 0.6724
Previous Daily Pivot Point S3: 0.6693
Previous Daily Pivot Point R1: 0.6816
Previous Daily Pivot Point R2: 0.6848
Previous Daily Pivot Point R3: 0.6878