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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.


    Today Last Price: 0.6672
    Today Daily change: -47 pips
    Today Daily change %: -0.700%
    Today Daily Open: 0.6719
    Previous Daily SMA20: 0.6793
    Previous Daily SMA50: 0.676
    Previous Daily SMA100: 0.6674
    Previous Daily SMA200: 0.6817
    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


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