#NZDUSD @ 0.63263 struggles to defend two-day uptrend, seesaws around intraday high., @nehcap view: Limited upside expected (Pivot Orderbook analysis)

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• NZD/USD struggles to defend two-day uptrend, seesaws around intraday high.
• Bearish MACD signals, sustained trading below 21-DMA keep sellers hopeful.
• One-month-old ascending trend line restricts immediate downside before the monthly low.

The pair currently trades last at 0.63263.

The previous day high was 0.6356 while the previous day low was 0.6257. The daily 38.2% Fib levels comes at 0.6318, expected to provide support. Similarly, the daily 61.8% fib level is at 0.6295, expected to provide support.

NZD/USD makes rounds to 0.6320 while printing mild gains for the second consecutive day during early Thursday.

In doing so, the Kiwi pair defends the previous weekly rebound from a one-month-old ascending support line, as well as portrays a struggle to cross the 21-DMA hurdle amid bearish MACD signals.

In addition to the 21-DMA level surrounding 0.6350, the previous support line stretched from October 13, now resistance around 0.6365, also challenges the NZD/USD buyers.

Even if the quote crosses the 0.6365 hurdle, the 0.6400 round figure and the monthly peak of 0.6514 could restrict the pair’s further upside. It should be noted that the NZD/USD pair’s successful trading beyond 0.6515 will need validation from June’s peak of 0.6575.

Hence, multiple hurdles stand ready to challenge the Kiwi pair’s latest recovery.

On the flip side, an upward-sloping support line from late November, close to 0.6250 by the press time, restricts the immediate downside of the NZD/USD price.

Following that, the bears may aim for the monthly lows and troughs marked during late November, respectively around 0.6230 and 0.6155.

It’s worth mentioning that the multiple lows marked during mid-November, around 0.6065-60 could challenge the NZD/USD bears past 0.6155, a break of which won’t hesitate to challenge the 0.6000 psychological magnet.

Trend: Limited upside expected

Technical Levels: Supports and Resistances

NZDUSD currently trading at 0.6319 at the time of writing. Pair opened at 0.6304 and is trading with a change of 0.24% % .

The pair is trading below its 20 Daily moving average @ 0.6351, above its 50 Daily moving average @ 0.6135 , above its 100 Daily moving average @ 0.6042 and above its 200 Daily moving average @ 0.6247

The previous day high was 0.6356 while the previous day low was 0.6257. The daily 38.2% Fib levels comes at 0.6318, expected to provide support. Similarly, the daily 61.8% fib level is at 0.6295, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 0.6255, 0.6207, 0.6156
• Pivot resistance is noted at 0.6354, 0.6405, 0.6453

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