By: Dima Chernovolov

NZD/USD continues to rise toward the Key Resistance Level 0.6942 – which was previously identified by Autochartist on the daily charts. Autochartist rates the strength of this Resistance Level at the 3 bar level which is the result of the three previous price reversals from this price level. NZD/USD is expected to rise further toward this Key Resistance Level – in line with the earlier sharp upward reversal from the combined support area shown below.

As can be seen from the daily NZD/USD below, the price earlier revered up from the support area lying at the intersection of the 100-day moving average, support level 0.6720 (which has been reversing the start of January) and 50% Fibonacci correction of the previous upward impulse from last month. The proximity of this support area increases the probability NZD/USD will continue to rise toward the Key Resistance Level 0.6942.

To subscribe to the e-mail alerts feature is quick and easy. Log into the Autochartist platform, click on ‘Alerts & Messaging’, enter your email address, select the market you want covered, select your language, and the time you want to get your report, and you’re done! You will now receive a quick morning technical outlook of the markets.


For further information on this and other Autochartist products visit


You may also like

Leave A Comment

Please enter your name. Please enter an valid email address. Please enter message.