NZD/USD Technical Analysis: 200-hour MA is key resistance
The NZD/USD pair's recovery rally from the Jan. 2 low of 0.6586 stalled at the 200-hour moving average (HMA) on Friday. As a result, a convincing move above that key MA is needed to revive the bullish view.
The higher highs and higher lows seen in the hourly chart indicate that the sell-off from the Dec. 4 high of 0.6969 ended at 0.6586 and the bulls have likely regained control.
The 200-HMA, however, capped gains on Friday, weakening the bullish pressures to some extent. A break higher, therefore, would validate trend reversal and open the doors to 0.6813 (200-day EMA).
The triangle breakout seen in the above chart indicates that the rally from the recent low of 0.6586 has resumed. As a result, the pair could soon find acceptance above the 200-HMA.
Today Last Price: 0.6746
Today Daily change: 10 pips
Today Daily change %: 0.148%
Today Daily Open: 0.6736
Previous Daily SMA20: 0.6766
Previous Daily SMA50: 0.6771
Previous Daily SMA100: 0.6677
Previous Daily SMA200: 0.6809
Previous Daily High: 0.6752
Previous Daily Low: 0.667
Previous Weekly High: 0.6843
Previous Weekly Low: 0.6516
Previous Monthly High: 0.697
Previous Monthly Low: 0.6686
Previous Daily Fibonacci 38.2%: 0.6721
Previous Daily Fibonacci 61.8%: 0.6702
Previous Daily Pivot Point S1: 0.6687
Previous Daily Pivot Point S2: 0.6638
Previous Daily Pivot Point S3: 0.6605
Previous Daily Pivot Point R1: 0.6769
Previous Daily Pivot Point R2: 0.6801
Previous Daily Pivot Point R3: 0.6851