OctaFX | OctaFX Forex Broker
Open trading account
Back

NZD/USD Technical Analysis: Drops to near 2-month lows, 100-day SMA support

   •  Having failed to sustain/build on its momentum beyond 100-hour EMA, the pair broke down of its two-day-old consolidation phase to hit near two-month lows in the last hour.

NZD/USD 1-hourly chart

   •  A sustained break below 50% Fibonacci retracement level of the 0.6424-0.6970 upsurge was seen as a key trigger behind the latest leg of a sharp fall over the past hour or so.

   •  Currently flirting with 100-day SMA, technical indicators on hourly/daily charts have been gaining negative momentum and support prospects for a fresh bearish breakdown.

Daily chart

   •  Hence, a follow-through technical selling, paving the way for an extension of the downfall towards testing 61.8% Fibo. level support now looks a distinct possibility.

NZD/USD

Overview:
    Today Last Price: 0.6672
    Today Daily change: -47 pips
    Today Daily change %: -0.700%
    Today Daily Open: 0.6719
Trends:
    Previous Daily SMA20: 0.6793
    Previous Daily SMA50: 0.676
    Previous Daily SMA100: 0.6674
    Previous Daily SMA200: 0.6817
Levels:
    Previous Daily High: 0.6843
    Previous Daily Low: 0.6706
    Previous Weekly High: 0.6779
    Previous Weekly Low: 0.6692
    Previous Monthly High: 0.697
    Previous Monthly Low: 0.6686
    Previous Daily Fibonacci 38.2%: 0.6791
    Previous Daily Fibonacci 61.8%: 0.6758
    Previous Daily Pivot Point S1: 0.6669
    Previous Daily Pivot Point S2: 0.6619
    Previous Daily Pivot Point S3: 0.6532
    Previous Daily Pivot Point R1: 0.6806
    Previous Daily Pivot Point R2: 0.6893
    Previous Daily Pivot Point R3: 0.6943

 

AUD/USD: Aussie extends free-fall to a fresh 3-year low below 0.7000

  AUD/USD is trading down almost 1% at around 0.6980, the lowest level since February 2016. The slowdown in the economic activity in China sparks
Read more Previous

USD/JPY recovers above 109 as DXY gains traction

Dragged by plummeting U.S. Treasury bond yields, the USD/JPY pair touched its lowest level since May of 2018 at 108.70 before staging a modest recover
Read more Next
Start livechat