The NZD/USD pair failed to capitalize on the overnight strong up-move to over three-week tops and struggled to find acceptance above the 0.6600 mark.

The mentioned handle coincides with 200-period SMA on the 4-hourly chart and should act as a key pivotal point for the pair’s next leg of a directional move.

Looking at the broader picture, the pair on Monday managed to decisively break through a three-week-old descending trend-channel and thus, remains poised to build on the recent bounce from near seven-month lows set on May 25.

Technical indicators on hourly charts maintained their bullish bias and have just started gaining positive traction on the daily chart, adding credence to the constructive outlook and prospects for a further near-term appreciating move. 

A sustained move beyond the 0.6600 handle will reaffirm the bullish outlook and set the stage for a possible move towards the 0.6900 round figure mark with some intermediate resistance near mid-0.6600s and the 0.6675-80 region.

NZD/USD 4-hourly chart

NZD/USD

Overview
Today last price 0.6596
Today Daily Change -0.0002
Today Daily Change % -0.03
Today daily open 0.6598
 
Trends
Daily SMA20 0.6549
Daily SMA50 0.665
Daily SMA100 0.6738
Daily SMA200 0.6711
Levels
Previous Daily High 0.6605
Previous Daily Low 0.6528
Previous Weekly High 0.656
Previous Weekly Low 0.6495
Previous Monthly High 0.6684
Previous Monthly Low 0.6481
Daily Fibonacci 38.2% 0.6575
Daily Fibonacci 61.8% 0.6557
Daily Pivot Point S1 0.6549
Daily Pivot Point S2 0.6499
Daily Pivot Point S3 0.6471
Daily Pivot Point R1 0.6626
Daily Pivot Point R2 0.6654
Daily Pivot Point R3 0.6704

 

 

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