The recent breaking of a long term down-trend line on the NZD/USD currency pair has pressed for a review of the technical charting of the pair. First of all it can be observed that the break occurred due to momentum received from a combined support of the 50.00% Fibonacci retracement level of the 2016 high and 2015 low levels at the 0.6831 level and the lower trend line of a large scale descending channel pattern. As a result a medium term descending channel has formed. However, most recently the pair hit the resistance line of the medium term pattern and it seems to be retreating. The decline of the Kiwi against the Buck might reach the support of the 38.20% Fibo at 0.6985 before the surge continues.
| Level | Rationale | Indicator | 4H | 1D | 1W | |||
| R4 | 0.7208 | Monthly R3 | MACD (12; 26; 9) | Buy | Buy | Sell | ||
| R3 | 0.7177 | 23.60% Fibo | RSI (14) | Sell | Neutral | Neutral | ||
| R2 | 0.7132 | Monthly R2 | Stochastic (5; 3; 3) | Sell | Sell | Sell | ||
| R1 | 0.7066/70 | Weekly R3; trend line | ADX (14) | Buy | Neutral | Neutral | ||
| S1 | 0.7008/01 | Weekly R2; monthly R1 | CCI (14) | Neutral | Sell | Neutral | ||
| S2 | 0.6985/68 | 38.20% Fibo; weekly R1 | AROON (14) | Buy | Buy | Buy | ||
| S3 | 0.6943/10 | All 3 SMAs; Both PPs;Two trend lines | Alligator (13; 8; 5) | Buy | Buy | Sell | ||
| S4 | 0.6870 | Weekly S1 | SAR (0.02; 0.2) | Buy | Buy | Buy | ||
| Aggregate | ↗ | ↗ | ↘ |