Technical Analysis: NZDUSD fails to sustain 200-day EMA breakout


With the overbought conditions of 14-day RSI portraying the NZDUSD pair's pullback from 200-day EMA, prices are likely to revisit 50% Fibonacci retracement level of 0.6500. Though, November month high near 0.6465 could keep sellers satisfied afterward. In a case where bears dominate below 0.6465, a confluence of 21-day EMA and 38.2% Fibonacci retracement, near 0.6425, will become a tough nut to crack.

On the upside, pair's daily closing beyond Tuesday's top of 0.6533 can escalate the rise towards 61.8% Fibonacci retracement level close to 0.6565. Additionally, August month peak around 0.6590, followed by 0.6600 round-figure, could entertain the bulls then after.

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