- NZD / USD remains on offers for the third consecutive day.
- A sustained breakout of the EMA at 50 days, a Fibonacci retracement of 61.8% maintains the hope of the buyers.
- The 100-day EMA adds to the upside barriers.
The NZD / USD is bidding near 0.6105 / 10, up 0.50% on a day, in the middle of Wednesday’s pre-European session. In doing so, the pair of kiwis maintains its rupture of a joint comprising 50 days of EMA and 61.8% retracement of Fibonacci from the fall of March.
As a result, buyers seem to be aiming for a downtrend line from April 30, at 0.6135 now, before confronting the 100-day EMA figures around 0.6175.
If NZD / USD prices remain positive above 0.6175, the February low near 0.6195 may offer an intermediate stop during the climb to the March peak around 0.6450.
On the contrary, the daily closing of the pair below 0.6075 confluence of support can recall 0.600 round figures on the charts.
However, 50% of Fibonacci’s retracement and the lowest monthly could further verify the decline around 0.5960 and 0.5920 respectively.
NZD / USD daily chart
Trend: continuation of the expected recovery