NZD/USD Falls and Approaches Level 0.6500, May Resume Upward Move

NZD/USD Falls and Approaches Level 0.6500, May Resume Upward Move

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

NZD/USD Price Long-term Trend: Ranging
NZD/USD pair is in an upward move. Since June, the pair has been fluctuating between levels 0.6500 and 0.6700. The price is rising to retest the resistance line. The key levels are yet to be broken as the pair fluctuates.

NZD/USD – Daily Chart

Daily Chart Indicators Reading:
The Kiwi has fallen to level 44 of the Relative Strength index period 14. It implies that the pair is in the downtrend zone and above the centerline 50. The 50-day SMA and 21-day SMA are sloping upward. It indicates the previous trend.

NZD/USD Medium-term Trend: Ranging
On the 4-hour chart, the NZD/USD pair is now in a sideways move. The price is still fluctuating between levels of 0.65500 and 0.6700. The Kiwi is yet to trend. Presently, the price is sloping downward.

NZD/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The 50-day and 21-day SMAs are sloping horizontally. It indicates that the recent sideways move. The pair is above 20 % range of the daily stochastic. It indicates that the market is in a bullish momentum.

General Outlook for NZD/USD
The NZD/USD pair is in a sideways move. From its upward move , the pair is fluctuating on the upside. Presently, its upward move is hindered by the resistance at level 0.6700.



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