Technical Update For Important NZD Pairs: 31.01.2019

Technical Update For Important NZD Pairs: 31.01.2019

NZD/USD

NZDUSD heads to nearly eight-month old descending resistance-line, at 0.6945 now, breaking which the 0.6970 and the 0.7000 may please the Kiwi Bulls. Should prices rally beyond 0.7000, the 0.7050-55 and the 0.7100 are likely following numbers to appear on the chart. In case overbought RSI play its role and drag the pair downwards, the 0.6870 and the 50-day SMA level of 0.6800, adjacent to 0.6760 TL support, can limit immediate declines. Given the pair drops beneath 0.6760, the 0.6705 mark including 100-day SMA and another support-line around 0.6635 becomes crucial to watch.

GBP/NZD

Having breached 1.9070-65 horizontal-support, the GBPNZD may slip to seven-week long ascending trend-line, at 1.8850, which if not respected can further fetch the quote to 1.8750. However, the 1.8600-1.8590 may restrict the pair’s dip past-1.8750, breaking which the 1.8475 and the 1.8375 could play their roles. On the contrary, an upside break of 1.9070 can avail 1.9100 and the 1.9190 resistances before confronting short-term resistance-line of 1.9225. Assuming the pair’s successful rise above 1.9225, the 1.9300 and the 1.9425 may please the buyers.

NZD/CAD

Unless clearing the 0.9085-75 region on H4 closing, chances of the NZDCAD’s pullback to the 0.9040 and then to the 0.9015 support-line can’t be denied. Though, pair’s extended south-run under 0.9015, also below 0.9000 psychological magnet, can drag it to the 0.8940 and to the 0.8905 rest-points. Meanwhile, sustained break of 0.9085 enables the pair to aim for 0.9110 ahead of looking at the 0.9165-70 resistance-area. Moreover, buyers’ dominance after 0.9170 might not hesitate challenging the 0.9200 and the 0.9255 numbers to north.

NZD/CHF

Alike NZDUSD, the NZDCHF also rises towards the medium-term resistance, namely the 0.6900 TL, but overbought RSI may question the pair’s afterward strength. If at all prices continue rallying beyond 0.6900, the 0.6940 and the 0.6965 can offer intermediate halts to its run up targeting 0.7000 round-figure. Alternatively, the 0.6815, the 50-day SMA level of 0.6740 and the 0.6700 mark comprising 200-day SMA seem adjacent supports for the pair. Should the 0.6700 SMA figure fall short of limiting the pair’s drop, the 0.6640-35 support-confluence, encompassing 100-day SMA & an upward sloping trend-line, could grab market attention.