NZD/USD Start Steady Increase
NZD/USD is also rising and might surge toward the 0.6145 resistance zone.
Important Takeaways for NZD USD Analysis Today
· NZD/USD is gaining bullish momentum above the 0.6060 support.
· There was a break above a key bearish trend line with resistance near 0.6020 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 0.5990 level. The New Zealand Dollar started a decent upward move above the 0.6020 resistance against the US Dollar.
There was also a break above a key bearish trend line with resistance near 0.6020. The pair is now trading above the 50-hour simple moving average and the 23.6% Fib retracement level of the main decline from the 0.6302 swing high to the 0.5988 low.
The NZD USD chart suggests that the RSI is rising and might lead the pair toward the 0.6145 resistance. It coincides with the 50% Fib retracement level of the main decline from the 0.6302 swing high to the 0.5988 low.
The next major resistance is near the 0.6230 level. A clear move above the 0.6230 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
On the downside, there is a key support forming near 0.6060. The next major support is near the 50-hour simple moving average at 0.6020.
If there is a downside break below the 0.6020 support, the pair might slide toward the 0.5990 support. Any more losses could send NZD/USD toward 0.5950.
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 0.6060 support.
· There was a break above a key bearish trend line with resistance near 0.6020 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 0.5990 level. The New Zealand Dollar started a decent upward move above the 0.6020 resistance against the US Dollar.
There was also a break above a key bearish trend line with resistance near 0.6020. The pair is now trading above the 50-hour simple moving average and the 23.6% Fib retracement level of the main decline from the 0.6302 swing high to the 0.5988 low.
The NZD USD chart suggests that the RSI is rising and might lead the pair toward the 0.6145 resistance. It coincides with the 50% Fib retracement level of the main decline from the 0.6302 swing high to the 0.5988 low.
The next major resistance is near the 0.6230 level. A clear move above the 0.6230 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
On the downside, there is a key support forming near 0.6060. The next major support is near the 50-hour simple moving average at 0.6020.
If there is a downside break below the 0.6020 support, the pair might slide toward the 0.5990 support. Any more losses could send NZD/USD toward 0.5950.
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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