NZD/USD Rally Attempts, Will Buyers Stay in Charge?
Market Analysis: NZD/USD Rally Attempts, Will Buyers Stay in Charge?
NZD/USD is also rising and might aim for more gains above 0.5920.
Important Takeaways for NZD USD Analysis Today
- NZD/USD is consolidating gains above the 0.5880 pivot level.
- There was a break above a major bearish trend line with resistance at 0.5870 on the hourly chart of NZD/USD.
NZD/USD Technical Analysis
On the hourly chart of NZD/USD at FXOpen, the pair started a decent increase from 0.5830. The New Zealand Dollar broke the 0.5855 barrier to start the recent rally against the US Dollar.
Moreover, there was a break above a major bearish trend line with resistance at 0.5870. The pair settled above 0.5875 and the 50-hour simple moving average. It tested 0.5920 and is currently consolidating gains.
There was a move below the 23.6% Fib retracement level of the upward move from the 0.5833 swing low to the 0.5917 high. The NZD/USD chart suggests that the RSI is stable above 50.
On the upside, the pair might struggle near 0.5905. The next major resistance is near the 0.5920 level. A clear move above 0.5920 might even push the pair toward 0.5965. Any more gains might clear the path for a move toward the 0.6000 handle in the coming days.
On the downside, immediate support is near the 0.5875 level. The first key zone for the bulls sits at 0.5855 and the 76.4% Fib retracement. The next key level is 0.5840. If there is a downside break below 0.5840, the pair might slide toward 0.5800. Any more losses could lead NZD/USD in a bearish zone to 0.5750.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
NZD/USD is also rising and might aim for more gains above 0.5920.
Important Takeaways for NZD USD Analysis Today
- NZD/USD is consolidating gains above the 0.5880 pivot level.
- There was a break above a major bearish trend line with resistance at 0.5870 on the hourly chart of NZD/USD.
NZD/USD Technical Analysis
On the hourly chart of NZD/USD at FXOpen, the pair started a decent increase from 0.5830. The New Zealand Dollar broke the 0.5855 barrier to start the recent rally against the US Dollar.
Moreover, there was a break above a major bearish trend line with resistance at 0.5870. The pair settled above 0.5875 and the 50-hour simple moving average. It tested 0.5920 and is currently consolidating gains.
There was a move below the 23.6% Fib retracement level of the upward move from the 0.5833 swing low to the 0.5917 high. The NZD/USD chart suggests that the RSI is stable above 50.
On the upside, the pair might struggle near 0.5905. The next major resistance is near the 0.5920 level. A clear move above 0.5920 might even push the pair toward 0.5965. Any more gains might clear the path for a move toward the 0.6000 handle in the coming days.
On the downside, immediate support is near the 0.5875 level. The first key zone for the bulls sits at 0.5855 and the 76.4% Fib retracement. The next key level is 0.5840. If there is a downside break below 0.5840, the pair might slide toward 0.5800. Any more losses could lead NZD/USD in a bearish zone to 0.5750.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
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Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.