NZD/USD Remains In Uptrend
NZD/USD is rising and might aim a move above the 0.6250 resistance.
Important Takeaways for NZD/USD
· NZD/USD started a decent increase above the 0.6150 resistance zone.
· There is a major bullish trend line forming with support near 0.6220 on the hourly chart of NZD/USD.
NZD/USD Technical Analysis
The New Zealand Dollar started a decent increase from the 0.6120 support zone against the US Dollar. The NZD/USD pair climbed above the 0.6150 and 0.6200 resistance levels.
The bulls even pushed the pair above the 0.6250 level and the 50 hourly simple moving average. A high was formed near 0.6275 before there was a fresh decline. A low was formed near 0.6199 and the pair is now rising.
NZD/USD Hourly Chart
On the upside, an initial resistance is near the 0.6250 level. It is near the 50% Fib retracement level of the recent decline from the 0.6275 swing high to 0.6199 low.
The next major resistance is near the 0.6255 level. It is near the 76.4% Fib retracement level of the recent decline from the 0.6275 swing high to 0.6199 low. A clear move above the 0.6255 level might even push the pair towards the 0.6275 level.
Any more gains might open the doors for a move towards the 0.6300 resistance zone in the coming days. An immediate support is near the 0.6220 level.
There is also a major bullish trend line forming with support near 0.6220 on the hourly chart of NZD/USD. The first major support is near the 0.6200 zone. The next support could be the 0.6180 zone. If there is a downside break below the 0.6180 support, the pair could extend its decline towards the 0.6120 level.
Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Important Takeaways for NZD/USD
· NZD/USD started a decent increase above the 0.6150 resistance zone.
· There is a major bullish trend line forming with support near 0.6220 on the hourly chart of NZD/USD.
NZD/USD Technical Analysis
The New Zealand Dollar started a decent increase from the 0.6120 support zone against the US Dollar. The NZD/USD pair climbed above the 0.6150 and 0.6200 resistance levels.
The bulls even pushed the pair above the 0.6250 level and the 50 hourly simple moving average. A high was formed near 0.6275 before there was a fresh decline. A low was formed near 0.6199 and the pair is now rising.
NZD/USD Hourly Chart
On the upside, an initial resistance is near the 0.6250 level. It is near the 50% Fib retracement level of the recent decline from the 0.6275 swing high to 0.6199 low.
The next major resistance is near the 0.6255 level. It is near the 76.4% Fib retracement level of the recent decline from the 0.6275 swing high to 0.6199 low. A clear move above the 0.6255 level might even push the pair towards the 0.6275 level.
Any more gains might open the doors for a move towards the 0.6300 resistance zone in the coming days. An immediate support is near the 0.6220 level.
There is also a major bullish trend line forming with support near 0.6220 on the hourly chart of NZD/USD. The first major support is near the 0.6200 zone. The next support could be the 0.6180 zone. If there is a downside break below the 0.6180 support, the pair could extend its decline towards the 0.6120 level.
Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
Penafian
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