NZD/USD Technical Analysis: Short-term MAs turn bullish

• 5, 10-day moving average (MA) bullish crossover confirmed, the NZD/USD daily chart shows.
• The MA crossover indicates a short-term bullish trend reversal in NZD/USD.

NZD/USD Daily chart

Spot rate: 0.6928

Daily Change: +0.14 percent

Daily high: 0.6937

Daily low: 0.6906

Trend: Bullish

Resistance

• 0.6974 (May 22 high)
• 0.70 (psychological level)
• 0.7053 (May 4 high)

Support

• 0.6915 (10-day MA)
• 0.6871 (May 17 low)
• 0.6851 (May 16 low)

The 5-day MA has crossed the 10-day MA in an NZD-positive manner, signaling a short-term bullish-to-bearish trend change. A similar crossover was seen in early April and had yielded a 140-pip rally in NZD/USD. NZD/USD could test immediate resistance located at 0.6974 (May 22 high).