NZDUSD Price Analysis: Bullish Doji on H4 favors further recovery

NZDUSD Price Analysis: Bullish Doji on H4 favors further recovery

  • NZD/USD extends the latest recovery following a bullish candlestick formation on the four-hour (H4) chart.
  • The falling trend lines from the previous week hold the key to 200-bar SMA.
  • Sellers will take entry below 0.5600.

With the bullish candlestick formation currently helping NZD/USD to recover early-day losses, the Kiwi par registers 0.08% of gains to 0.5730 amid the Asian session on Friday.

The quote is now expected to stretch the pullback towards the descending resistance trend lines drawn from March 09 and 11 near 0.5885 and 0.5935.

However, the pair’s successful upside past-0.5935 will not hesitate to challenge 0.6000 as well as a 200-bar SMA level of 0.6285.

Meanwhile, the pair’s dip below 0.5600 will negate the bullish candlestick formation and can open the door for its fresh drop towards the latest low near 0.5470.

It should also be noted that the 0.5500 mark can offer an intermediate stop between 0.5600 and 0.5470.

NZD/USD four-hour chart

Trend: Further recovery expected

Additional important levels

Overview
Today last price 0.5722
Today Daily Change -1 pip
Today Daily Change % -0.02%
Today daily open 0.5723

 

Trends
Daily SMA20 0.6192
Daily SMA50 0.6382
Daily SMA100 0.6453
Daily SMA200 0.6459

 

Levels
Previous Daily High 0.5917
Previous Daily Low 0.547
Previous Weekly High 0.645
Previous Weekly Low 0.6005
Previous Monthly High 0.6504
Previous Monthly Low 0.6192
Daily Fibonacci 38.2% 0.564
Daily Fibonacci 61.8% 0.5746
Daily Pivot Point S1 0.549
Daily Pivot Point S2 0.5256
Daily Pivot Point S3 0.5043
Daily Pivot Point R1 0.5937
Daily Pivot Point R2 0.615
Daily Pivot Point R3 0.6384

 

 

 


Source: FxStreet

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