NZD/USD Technical Analysis: Kiwi is struggling despite the falling wedge breakout
- The NZD/USD pair witnessed a falling wedge breakout on Monday. So far, however, the bull breakout has failed to put a strong bid under the Kiwi.
- As seen in the chart below, the upside is being capped around 0.69.
- The bull breakout and the higher lows would gain credence if NZD/USD establishes a bullish higher-high with a move above the previous day's high of 0.6912. That would open the doors to the recent high of 0.6969.
- On the downside, a move below 0.6862 would invalidate the bullish view put forward by the falling wedge breakout.
Hourly Chart
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Trend: Bullish above 0.6912
NZD/USD
Overview:
Today Last Price: 0.6892
Today Daily change: 17 pips
Today Daily change %: 0.247%
Today Daily Open: 0.6875
Trends:
Previous Daily SMA20: 0.6849
Previous Daily SMA50: 0.6686
Previous Daily SMA100: 0.6669
Previous Daily SMA200: 0.6854
Levels:
Previous Daily High: 0.6912
Previous Daily Low: 0.6861
Previous Weekly High: 0.697
Previous Weekly Low: 0.6846
Previous Monthly High: 0.6887
Previous Monthly Low: 0.6514
Previous Daily Fibonacci 38.2%: 0.6893
Previous Daily Fibonacci 61.8%: 0.688
Previous Daily Pivot Point S1: 0.6853
Previous Daily Pivot Point S2: 0.6832
Previous Daily Pivot Point S3: 0.6802
Previous Daily Pivot Point R1: 0.6904
Previous Daily Pivot Point R2: 0.6934
Previous Daily Pivot Point R3: 0.6955