Technical analytics

Fibonacci analysis of NZD/USD


USD strength weighed on the New Zealand dollar on Tuesday. Sellers regained the level 0.6750 and drove the market to the 0.6700 handle. The major touched the level in the evening and then rebounded to 0.6750. The up-move lost strength here and the spot spent the night in this area.

The 50.0% Fibonacci level coincides with the 0.6700 level. It is an additional support for the NZD/USD pair. The 38.2% Fibonacci level is located at 0.6770.  

The EMA50 is neutral and is hovering above 0.6700. The EMA200 is located at 0.6800 and is heading south. MACD decreased which confirms the strength of sellers. Stochastic left the oversold levels. The resistance stands at 0.6750, the support is at 0.6700.

The outlook remains bearish and may slide to 0.6700 again

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