NZDUSD has encountered significant resistance around the 0.5976 level after a strong rally from earlier lows, with the pair currently setting sights on next Fib levels that could determine the next directional move.
NZDUSD has formed higher lows connected by a rising trend line on its hourly time frame, with price gearing up to test the support area after bouncing off the highs around .5750.
AUDNZD recently busted through a strong resistance zone around the 1.1100 major psychological level then retreated upon reaching the highs at 1.1150. A pullback to the former resistance zone appears to be taking place.
NZDJPY recently fell through the floor around the 90.50 minor psychological mark and looks due for a pullback to the former support zone. The Fibonacci retracement tool shows additional levels where sellers could be waiting.
NZDJPY has formed lower highs and found support at the 90.20 mark, creating a descending triangle on its hourly chart. Price is currently testing resistance and could be due for a dip back to the triangle support.
NZDJPY recently fell through its symmetrical triangle pattern on the hourly time frame and looks ready for another retest of the broken support. The Fibonacci retracement tool shows additional levels where sellers might be waiting to join in.
EURNZD made a couple of failed attempts to break below the 1.7600 zone and is now testing resistance at 1.7950. A break above this double bottom neckline could confirm that an uptrend is in order.
EURNZD has been moving sideways, finding support at the 1.8100 major psychological mark and resistance close to the 1.8500 handle. Price is climbing then pulling…