Technical analytics

Fibonacci analysis of NZD/USD

NZDUSD

NZD/USD spent most of the day in an upward channel. The pair traded around its lower boundary which is located around 0.6830. The market sentiment switched in the morning and the spot started to lose value. The NZD dropped to 0.6830 first and then continued its downward trajectory towards 0.6800.

The Fibonacci level of 23.6% is located in the 0.6840 area. The EMA200 defended the 0.6800 level and stopped sellers. The EMA50 is growing, while the EMA200 is still neutral. MACD declined in the positive area. Stochastic left the overbought area and reached the oversold readings. The resistance stands at 0.6850, the support is at 0.6800.


If the bearish scenario prevails, the NZD/USD pair may visit 0.6750 in the coming days.


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