#NZDUSD @ 0.61433 -imp levels: picks up bids to refresh intraday high, extends recovery from six-week low.

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• NZD/USD picks up bids to refresh intraday high, extends recovery from six-week low.
• Impending bull cross signals further upside, 50-SMA adds to the upside filters.
• Sellers have a bumpy road to the south before testing yearly low.

The pair currently trades last at 0.61433.

The previous day high was 0.6168 while the previous day low was 0.6101. The daily 38.2% Fib levels comes at 0.6142, expected to provide support. Similarly, the daily 61.8% fib level is at 0.6127, expected to provide support.

NZD/USD refreshes intraday top around 0.6180 while extending the previous day’s rebound from a 1.5-month low during Tuesday’s mid-Asian session.

In doing so, the Kiwi pair pokes the downward sloping resistance line from August 12 by stretching the bounce from a seven-week-old horizontal support area.

That said, a clear upside break of the 0.6170 appears necessary to convince NZD/USD bulls ahead of pushing them to the 50-SMA hurdle surrounding 0.6195, as well as to the 0.6200 threshold.

Following that, the 61.8% Fibonacci retracement level of July-August upside near 0.6220 and the month-start peak of 0.6353 will be crucial to watch for the buyers.

Meanwhile, a pullback from the current levels remains elusive until staying beyond the aforementioned horizontal support zone near 0.6100.

Also acting as immediate support is the one-week-old downward sloping trend line, around 0.6085.

Even if the NZD/USD prices decline below 0.6085, the quote needs validation from the yearly low marked in July, around 0.6060, before challenging the 0.6000 psychological magnet.

Trend: Limited recovery expected

Technical Levels: Supports and Resistances

NZDUSD currently trading at 0.6158 at the time of writing. Pair opened at 0.6155 and is trading with a change of 0.05% % .

The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 0.6276, 50 SMA 0.6244, 100 SMA @ 0.6366 and 200 SMA @ 0.6577.

The previous day high was 0.6168 while the previous day low was 0.6101. The daily 38.2% Fib levels comes at 0.6142, expected to provide support. Similarly, the daily 61.8% fib level is at 0.6127, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 0.6115, 0.6074, 0.6048
• Pivot resistance is noted at 0.6182, 0.6208, 0.6249

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