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TODAY NZDUSD SIGNAL NZD/USD Price Analysis: 100-SMA probes bears below 0.6800

TODAY NZDUSD SIGNAL

TODAY NZDUSD SIGNAL : NZD/USD Price Analysis: 100-SMA probes bears below 0.6800

  • NZD/USD pares intraday losses around one-week low amid market’s indecision.
  • Descending RSI, support break keep sellers hopeful to visit 200-SMA.
  • An upward sloping support line from late January also challenges bears.

TODAY NZDUSD SIGNAL : NZDUSD stays defensive around 0.6790, keeping the bounce off 100-SMA heading into Monday’s European session.

However, a clear downside break of an ascending trend line from March 02 joins downward sloping RSI, not oversold, to hint at the Kiwi pair’s further declines.

Hence, fresh selling can wait for a sustained break of the 100-SMA level, around 0.6778 by the press time, before targeting a south-run towards the 200-SMA, near 0.6705 at the latest.

Even so, a six-week-old support line close to 0.6690 will challenge the NZD/USD bears afterward.

Meanwhile, recovery moves remain elusive until bouncing back beyond the previous support line surrounding 0.6835.

TODAY NZDUSD SIGNAL : Following that, Thursday’s high near 0.6875 and the 0.6900 threshold will lure the NZD/USD bulls before directing them to the monthly high near 0.6930.

Overall, NZD/USD remains vulnerable to test the rising trend line from late January but the key SMAs may offer intermediate halts during the fall.

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Exinity Limited is a member of Financial Commission, an international organization engaged in a resolution of disputes within the financial services industry in the Forex market.

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