NZD/USD Technical Analysis: Bulls likely to pause near ascending trend-channel resistance
• After yesterday's brief pause, the pair regained positive traction and built on this week's bullish breakthrough a short-term descending trend-line resistance.
• The momentum helped the pair to surge through the very important 200-day SMA barrier near the 0.6800 handle and hit three-week tops in the last hour.
NZD/USD daily chart
• The up-move over the past one week or so, along an ascending trend-channel formation on the 1-hourly chart, points to a well-established bullish trajectory.
• However, technical indicators on the mentioned chart are already pointing to slightly overbought conditions and might now cap any additional gains.
• The set-up indicates a possible near-term consolidation at the trend-channel resistance, around the 0.6835-40 region, ahead of today's US inflation figures.
Today Last Price: 0.6832
Today Daily change: 52 pips
Today Daily change %: 0.767%
Today Daily Open: 0.678
Previous Daily SMA20: 0.6745
Previous Daily SMA50: 0.6787
Previous Daily SMA100: 0.6681
Previous Daily SMA200: 0.6799
Previous Daily High: 0.6799
Previous Daily Low: 0.6771
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%: 0.6782
Previous Daily Fibonacci 61.8%: 0.6788
Previous Daily Pivot Point S1: 0.6768
Previous Daily Pivot Point S2: 0.6755
Previous Daily Pivot Point S3: 0.674
Previous Daily Pivot Point R1: 0.6796
Previous Daily Pivot Point R2: 0.6811
Previous Daily Pivot Point R3: 0.6824