NZD/USD Technical Analysis: Confirms a bullish break through an important confluence hurdle
• The pair caught some aggressive bid on Thursday and is now looking to build on the positive momentum further beyond the 0.6600 handle.
• The pair finally broke through an important confluence hurdle, comprising of 50-day SMA and a short-term descending trend-channel resistance.
• Technical indicators on the daily chart are gradually moving into positive territory and add credence to a possible near-term bullish breakout.
• Hence, a follow-through up-move led by some fresh technical buying, towards reclaiming the 0.6700 handle, now looks a distinct possibility.
NZD/USD daily chart
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NZD/USD
Overview:
Last Price: 0.6603
Daily change: 86 pips
Daily change: 1.32%
Daily Open: 0.6517
Trends:
Daily SMA20: 0.652
Daily SMA50: 0.6576
Daily SMA100: 0.6673
Daily SMA200: 0.6927
Levels:
Daily High: 0.6572
Daily Low: 0.6513
Weekly High: 0.6612
Weekly Low: 0.6465
Monthly High: 0.663
Monthly Low: 0.6424
Daily Fibonacci 38.2%: 0.6536
Daily Fibonacci 61.8%: 0.6549
Daily Pivot Point S1: 0.6496
Daily Pivot Point S2: 0.6476
Daily Pivot Point S3: 0.6438
Daily Pivot Point R1: 0.6555
Daily Pivot Point R2: 0.6592
Daily Pivot Point R3: 0.6613