Technical analytics

Fibonacci analysis of NZD/USD


The buying bias prevailed on Monday. Buyers pressured the level 0.6750, but captured it in the morning. The pair moved to 0.6770 where the Fibonacci level of 38.2% limited buyers' advance. The spot bounced from the barrier immediately after touching it. The EMA50 became positive, while the EMA200 remained bearish. MACD declined in the positive area. Stochastic left the overbought levels. The resistance stands at 0.6750, the support is at 0.6700.

The pair may gain some negative traction and ease off its recent highs amid profit-taking after recent rally. The pair might move to 0.6730 now.

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