Technical analytics

Fibonacci analysis of NZDUSD

NZDUSD

The NZD retracement stalled at 0.6700. The Kiwi touched the level and found fresh bids here. An increased buying interest helped bulls to retrace some ground. They drove the market to the 0.6750 hurdle where the upward impetus lost legs and the rate dropped to 0.6700. The moving averages continued moving north. MACD approached the mid-line. Stochastic continued pull back from the oversold levels. The resistance stands at 0.6750, the support is at 0.6700.


If the selling pressure keeps growing, the pair may move lower and may revisit 0.6700 in the coming sessions.


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