NZD/USD Technical Analysis: Bulls likely to pause near ascending trend-channel resistance

11 Jan 2019

   •  After yesterday's brief pause, the pair regained positive traction and built on this week's bullish breakthrough a short-term descending trend-line resistance. 

   •  The momentum helped the pair to surge through the very important 200-day SMA barrier near the 0.6800 handle and hit three-week tops in the last hour.

NZD/USD daily chart

   •  The up-move over the past one week or so, along an ascending trend-channel formation on the 1-hourly chart, points to a well-established bullish trajectory.

   •  However, technical indicators on the mentioned chart are already pointing to slightly overbought conditions and might now cap any additional gains.

1-hourly chart

   •  The set-up indicates a possible near-term consolidation at the trend-channel resistance, around the 0.6835-40 region, ahead of today's US inflation figures.

NZD/USD

Overview:
    Today Last Price: 0.6832
    Today Daily change: 52 pips
    Today Daily change %: 0.767%
    Today Daily Open: 0.678
Trends:
    Previous Daily SMA20: 0.6745
    Previous Daily SMA50: 0.6787
    Previous Daily SMA100: 0.6681
    Previous Daily SMA200: 0.6799
Levels:
    Previous Daily High: 0.6799
    Previous Daily Low: 0.6771
    Previous Weekly High: 0.6843
    Previous Weekly Low: 0.6516
    Previous Monthly High: 0.697
    Previous Monthly Low: 0.6686
    Previous Daily Fibonacci 38.2%: 0.6782
    Previous Daily Fibonacci 61.8%: 0.6788
    Previous Daily Pivot Point S1: 0.6768
    Previous Daily Pivot Point S2: 0.6755
    Previous Daily Pivot Point S3: 0.674
    Previous Daily Pivot Point R1: 0.6796
    Previous Daily Pivot Point R2: 0.6811
    Previous Daily Pivot Point R3: 0.6824

 

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