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NZD/USD Technical Analysis: Challenging former support-turned-resistance of H&S neckline

  • The NZD/USD pair is now probing the former support-turned-resistance of 0.6787 –  head-and-shoulders neckline.
  • The bearish view put forward by the head-and-shoulders breakdown would be invalidated if the 4-hour candle closes above 0.6787.
  • A bullish reversal would be confirmed if the pair violates a lower high setup with a move above 0.6880.
  • Key averages have rolled over in favor of the bears. For instance, the 50-MA is trending south, having crossed the 100-MA from above earlier this week. Also, the 200-candle MA is now flatter, indicating the bullish momentum has run out of steam. NZD, therefore, may have a tough time scaling the lower high of 0.6880.

Trend: Neutral

Trend: Neutral

NZD/USD

Overview:
    Today Last Price: 0.6787
    Today Daily change: 9.0 pips
    Today Daily change %: 0.133%
    Today Daily Open: 0.6778
Trends:
    Previous Daily SMA20: 0.6847
    Previous Daily SMA50: 0.6734
    Previous Daily SMA100: 0.667
    Previous Daily SMA200: 0.6838
Levels:
    Previous Daily High: 0.6816
    Previous Daily Low: 0.6724
    Previous Weekly High: 0.6912
    Previous Weekly Low: 0.6778
    Previous Monthly High: 0.6887
    Previous Monthly Low: 0.6514
    Previous Daily Fibonacci 38.2%: 0.6759
    Previous Daily Fibonacci 61.8%: 0.6781
    Previous Daily Pivot Point S1: 0.673
    Previous Daily Pivot Point S2: 0.6681
    Previous Daily Pivot Point S3: 0.6638
    Previous Daily Pivot Point R1: 0.6822
    Previous Daily Pivot Point R2: 0.6865
    Previous Daily Pivot Point R3: 0.6914

 

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