NZD/USD Is in an Uptrend, Breaches Resistance at Level 0.6600

NZD/USD Is in an Uptrend, Breaches Resistance at Level 0.6600

Key Resistance Levels: 0.6600, 0.6800, 0.7000
Key Support Levels: 0.6200, 0.6000, 0.5800

NZD/USD Price Long-term Trend: Bullish
NZD/USD pair is in an upward move. The upward move is facing resistance at level 0.65000. The Kiwi will make a downward move if it fails to break the current resistance. The New Zealand dollar will reach a high of 0.66000 if it breaks the current resistance. Meanwhile, price is fluctuating below the resistance.

NZD/USD – Daily Chart

Daily Chart Indicators Reading:
The Kiwi is at level 66 of the Relative Strength Index period 14. It implies that the pair is in the uptrend zone and above the centerline 50. The 50-day SMA and 21-day SMA are sloping upward. It indicates that the market is rising.

NZD/USD Medium-term Trend: Ranging
On the 4-hour chart, the NZD/USD pair has risen and approaching level 0.6600. The pair fell after testing the resistance zone. In the meantime, the upward move has resumed. The market will reach a high of level 0.6600 if the momentum is sustained.

NZD/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The 50-day and 21-day SMA are sloping horizontally. It indicates that the market is in a sideways trend. The pair is below 80% range of the daily stochastic. This is contrary to the price action which indicates a bullish signal.


General Outlook for NZD/USD
The NZD/USD pair is rising as it approaches the resistance at level 0.6600. The pair may face resistance at level 0.6600.


Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results


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