Technical analytics

Fibonacci analysis of NZDUSD


The buying structure remained in place on Tuesday. The NZD tried to extend a recovery from 0.6630, however, buyers lost strength in the 0.6680 region and stopped. Bulls returned in the early Asian session when fresh bullishness helped them to break above 0.6700 (the retracement of 100.0%) and to post a fresh high at 0.6780. The EMA200 is still neutral, while the EMA50 is heading north. Moreover, the EMA50 crossed the EMA200 upwards. MACD grew in the positive area. RSI consolidated within the overbought levels. The resistance stands at 0.6750, the support is at 0.6700.

The growing MACD is pointing to buyers’ growing strength. However, if buyers do not try to probe the 0.6750 hurdle, sellers may return in the game and may send the rate to 0.6700.

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