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NZD/USD Technical Analysis: At session highs, but struggling to force a break above 50-day MA

  • The NZD/USD pair clocked a session high of 0.6757 a few minutes before press time, having picked up a bid at 0.6720 in Asia amid broad-based USD selling.
  • The pair, however, is struggling to cross the 50-day moving average (MA) hurdle for the third day straight. A break above that MA hurdle would expose the confluence of the falling trendline and inverse head-and-shoulders neckline resistance (former support) located at 0.68.
  • A daily close above 0.68 would signal a bearish-to-bullish trend change.
  • Repeated failure to take out the 50-day MA could embolden the bears.

Daily chart

Trend: Bullish above 0.68

NZD/USD

Overview:
    Today Last Price: 0.6753
    Today Daily change: 29 pips
    Today Daily change %: 0.431%
    Today Daily Open: 0.6724
Trends:
    Previous Daily SMA20: 0.6752
    Previous Daily SMA50: 0.6779
    Previous Daily SMA100: 0.6679
    Previous Daily SMA200: 0.6804
Levels:
    Previous Daily High: 0.6761
    Previous Daily Low: 0.6707
    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%: 0.6728
    Previous Daily Fibonacci 61.8%: 0.674
    Previous Daily Pivot Point S1: 0.67
    Previous Daily Pivot Point S2: 0.6677
    Previous Daily Pivot Point S3: 0.6646
    Previous Daily Pivot Point R1: 0.6754
    Previous Daily Pivot Point R2: 0.6784
    Previous Daily Pivot Point R3: 0.6808

 

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