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NZD/USD Technical Analysis: Kiwi has eroded key ascending trendline

  • The NZD/USD pair is looking south, having breached trendline connecting the Oct. 26 and Oct. 31 lows earlier this week.
  • The pair's failure to capitalize on the bull breakout, as seen in the 4-hour chart, also indicates scope for a deeper pullback.
  • The relative strength index (RSI) on the 4-hour chart is also biased bearish below 50.00. Further, Kiwi has dipped below the 100-candle moving average (MA), having breached the 50-candle MA on Dec. 11. As a result, NZD/USD risks falling to 0.6780 (200-hour MA) in the next day or two.

4-hour chart

Trend: bearish

NZD/USD

Overview:
    Today Last Price: 0.6846
    Today Daily change: -12 pips
    Today Daily change %: -0.175%
    Today Daily Open: 0.6858
Trends:
    Previous Daily SMA20: 0.6852
    Previous Daily SMA50: 0.6692
    Previous Daily SMA100: 0.6669
    Previous Daily SMA200: 0.6852
Levels:
    Previous Daily High: 0.6901
    Previous Daily Low: 0.6825
    Previous Weekly High: 0.697
    Previous Weekly Low: 0.6846
    Previous Monthly High: 0.6887
    Previous Monthly Low: 0.6514
    Previous Daily Fibonacci 38.2%: 0.6854
    Previous Daily Fibonacci 61.8%: 0.6872
    Previous Daily Pivot Point S1: 0.6822
    Previous Daily Pivot Point S2: 0.6785
    Previous Daily Pivot Point S3: 0.6745
    Previous Daily Pivot Point R1: 0.6898
    Previous Daily Pivot Point R2: 0.6938
    Previous Daily Pivot Point R3: 0.6974

 

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