Yahoo Finance Important NZD Pairs’ Technical Update: 20.12.2018
NZD/USD
While inability to sustain 200-day SMA dragged NZDUSD to five-week low, 50-day SMA & short-term ascending support-line presently restricts the pair’s further downside around 0.6730-20. Should the pair registers a daily closing beneath the 0.6720, the 0.6700 and 100-day SMA level of 0.6665 might entertain sellers before pleasing them with 0.6600 mark. On the contrary, 0.6820 and the 0.6835, comprising 200-day SMA, seem nearby resistances for the pair to clear, breaking which the 0.6850, the 0.6880 and the 0.6900 can play their roles. However, the 0.6965-75 and the 0.7000 round-figure may confine the pair’s advances past-0.6900.
EUR/NZD
Break of two-month old resistance-line helps the EURNZD to confront 50-day SMA level of 1.6915, which if broken on a D1 basis could propel the quote to 1.7115-20 region. In case buyers refrain to respect the 1.7120 barrier, the 1.7225, including 100-day SMA, followed by 1.7300, might challenge the Bulls. Assuming the pair’s failure to cross 1.6915, the 1.6790-75 support-zone can regain market attention as break of which may not hesitate fetching prices to the 1.6630 and the 1.6500 rest-points. If at all the pair continues declining under 1.6500, the 1.6420 and the 1.6325 may flash on Bears’ radar to target.
AUD/NZD
AUDNZD’s recent pullback couldn’t surpass a downward slanting trend-line since early-November, which in-turn drags the pair towards 1.0490 and 1.0450 supports. Given the pair’s extended downturn beneath 1.0450, the 1.0430, the 1.0400 and the 61.8% FE level of 1.0380 may appear on the chart. Alternatively, the 1.0580-85 area can limit the pair’s upside beyond 1.0550 trend-line break but successful clearance of 1.0585 may escalate the recovery to 1.0625 and the 1.0670. Though, the 1.0690-1.0700 could try questioning the pair’s strength after 1.0670, breaking which 1.0765 and the 1.0800 might become optimists favorites.
NZD/CAD
Having bounced off immediate support-line, the NZDUSD is again aiming for the 0.9185 resistance prior to confronting the 0.9250-55 multiple-top region; though, a sustained break of 0.9255 enables the pair to look for 61.8% FE level of 0.9320 as a landmark. Meanwhile, pair’s dip below 0.9070 TL support can trigger its south-run to 0.9000 and the 0.8915 levels. Moreover, the 0.8860, the 0.8770 and the 0.8745 are likely consecutive supports that could try holding the pair under 0.8915.
This article was originally posted on FX Empire
