Important NZD Pairs’ Technical Update: 20.12.2018

Anil Panchal
Important NZD Pairs' Technical Update: 20.12.2018


While inability to sustain 200-day SMA dragged NZDUSD to five-week low, 50-day SMA & short-term ascending support-line presently restricts the pair’s further downside around 0.6730-20. Should the pair registers a daily closing beneath the 0.6720, the 0.6700 and 100-day SMA level of 0.6665 might entertain sellers before pleasing them with 0.6600 mark. On the contrary, 0.6820 and the 0.6835, comprising 200-day SMA, seem nearby resistances for the pair to clear, breaking which the 0.6850, the 0.6880 and the 0.6900 can play their roles. However, the 0.6965-75 and the 0.7000 round-figure may confine the pair’s advances past-0.6900.


Break of two-month old resistance-line helps the EURNZD to confront 50-day SMA level of 1.6915, which if broken on a D1 basis could propel the quote to 1.7115-20 region. In case buyers refrain to respect the 1.7120 barrier, the 1.7225, including 100-day SMA, followed by 1.7300, might challenge the Bulls. Assuming the pair’s failure to cross 1.6915, the 1.6790-75 support-zone can regain market attention as break of which may not hesitate fetching prices to the 1.6630 and the 1.6500 rest-points. If at all the pair continues declining under 1.6500, the 1.6420 and the 1.6325 may flash on Bears’ radar to target.


AUDNZD’s recent pullback couldn’t surpass a downward slanting trend-line since early-November, which in-turn drags the pair towards 1.0490 and 1.0450 supports. Given the pair’s extended downturn beneath 1.0450, the 1.0430, the 1.0400 and the 61.8% FE level of 1.0380 may appear on the chart. Alternatively, the 1.0580-85 area can limit the pair’s upside beyond 1.0550 trend-line break but successful clearance of 1.0585 may escalate the recovery to 1.0625 and the 1.0670. Though, the 1.0690-1.0700 could try questioning the pair’s strength after 1.0670, breaking which 1.0765 and the 1.0800 might become optimists favorites.


Having bounced off immediate support-line, the NZDUSD is again aiming for the 0.9185 resistance prior to confronting the 0.9250-55 multiple-top region; though, a sustained break of 0.9255 enables the pair to look for 61.8% FE level of 0.9320 as a landmark. Meanwhile, pair’s dip below 0.9070 TL support can trigger its south-run to 0.9000 and the 0.8915 levels. Moreover, the 0.8860, the 0.8770 and the 0.8745 are likely consecutive supports that could try holding the pair under 0.8915.

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