Friday, October 16, 2026

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FxWirePro: NZD/USD struggles to close above 20-DMA, intraday bias lower

NZD/USD struggles to extend gains above 20-DMA, major resistance on the upside. After a brief pause on Tuesday, the pair is extending downside from 2-week highs of 0.7267 hit on 20th Oct. Technical indicators remain bear…

By FxWirePro Team
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FxWirePro: NZD/USD struggles to close above 20-DMA, intraday bias lower
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  • NZD/USD struggles to extend gains above 20-DMA, major resistance on the upside.
     
  • After a brief pause on Tuesday, the pair is extending downside from 2-week highs of 0.7267 hit on 20th Oct.
     
  • Technical indicators remain bearish, scope for test of trendline support at 0.7060.
     
  • Major support levels - 0.7109 (Double bottom - Oct 7, 25), 0.7080 (50% Fib), 0.7060 (trendline)
     
  • Major resistance levels - 0.7151 (5-DMA), 0.7160 (20-DMA), 0.7175 (38.2% Fib), 0.7190 (100-DMA)
     
  • Our previous call (http://www.econotimes.com/FxWirePro-NZD-USD-trades-a-narrow-range-finds-stiff-resistance-at-100-DMA-07190-366838) has hit TP1.
     
  • Recommend holding for further downside.
     

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By FxWirePro Team