NZD/USD Regain Strength
NZD/USD is also showing positive signs above the 0.6200 resistance zone.
Important Takeaways for NZD USD Analysis Today
· NZD/USD is gaining bullish momentum above the 0.6200 support.
· There is a major bullish trend line forming with support near 0.6200 on the hourly chart of NZD/USD at FXOpen.
NZD/USD Technical Analysis
On the hourly chart of AUD/USD on FXOpen, the pair formed a base above the 0.6100 level. The New Zealand Dollar started a steady increase above the 0.6150 resistance against the US Dollar.
The pair settled above 0.6200 and the 50-hour simple moving average. It tested the 0.6245 zone and is currently consolidating gains above the 23.6% Fib retracement level of the recent increase from the 0.6153 swing low to the 0.6246 high.
The NZD USD chart suggests that the RSI is declining and the pair might correct lower. On the downside, there is key support forming near a bullish trend line at 0.6200 and the 50-hour simple moving average.
The trend line is near the 50% Fib retracement level of the recent increase from the 0.6153 swing low to the 0.6246 high. The next major support is near 0.6150.
If there is a downside break below the 0.6150 support, the pair might slide toward the 0.6100 support. Any more losses could send NZD/USD toward 0.6050.
On the upside, the pair might struggle near 0.6245. The next major resistance is near the 0.6260 level. A clear move above the 0.6260 level might even push the pair toward the 0.6300 level. Any more gains might open the doors for a move toward the 0.6350 resistance zone in the coming days.
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.
Important Takeaways for NZD USD Analysis Today
· NZD/USD is gaining bullish momentum above the 0.6200 support.
· There is a major bullish trend line forming with support near 0.6200 on the hourly chart of NZD/USD at FXOpen.
NZD/USD Technical Analysis
On the hourly chart of AUD/USD on FXOpen, the pair formed a base above the 0.6100 level. The New Zealand Dollar started a steady increase above the 0.6150 resistance against the US Dollar.
The pair settled above 0.6200 and the 50-hour simple moving average. It tested the 0.6245 zone and is currently consolidating gains above the 23.6% Fib retracement level of the recent increase from the 0.6153 swing low to the 0.6246 high.
The NZD USD chart suggests that the RSI is declining and the pair might correct lower. On the downside, there is key support forming near a bullish trend line at 0.6200 and the 50-hour simple moving average.
The trend line is near the 50% Fib retracement level of the recent increase from the 0.6153 swing low to the 0.6246 high. The next major support is near 0.6150.
If there is a downside break below the 0.6150 support, the pair might slide toward the 0.6100 support. Any more losses could send NZD/USD toward 0.6050.
On the upside, the pair might struggle near 0.6245. The next major resistance is near the 0.6260 level. A clear move above the 0.6260 level might even push the pair toward the 0.6300 level. Any more gains might open the doors for a move toward the 0.6350 resistance zone in the coming days.
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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