Technical analytics

Fibonacci analysis of NZD/USD

NZDUSD

NZD/USD remained under heavy buying pressure yesterday. The NZD caught fresh bids at 06750 and rallied to 0.6800 where the buying pressure eased and the major pulled back to 0.6770.


The Fibonacci level of 38.2% is located in the 0.6750 area. The EMA50 lies in the 0.6700 area acting as an additional support. The EMA200 is defending the 0.6800 level. The EMA50 is growing, while the EMA200 is moving downwards. MACD continued its growth in the positive area. Stochastic reached the overbought levels. The resistance stands at 0.6800, the support is at 0.6750.


If the EMA200 stands, the NZD might pull back to 0.6770. If bulls retake the level, they might drive the major to 0.6840.