Technical analysis of the New Zealand dollar against the US dollar for December 14, 2022

The price of the New Zealand dollar rose against the US dollar from 0.6210, to settle today at around 0.6438 levels. Stability in trading above the mentioned level might be a strong reason to strengthen the bullish trend to reach the initial resistance level 0.6468.

In the event that it reverses our expectations for the pair’s decline, then we must take 0.6408 levels as a stop-loss area.

By reading the chart of the New Zealand dollar pair, it is clear to us that the pair traded above the three moving averages (7, 14, and 21 hours) and the relative strength index confirms the dominance of buying forces on the New Zealand dollar pair, and from it we expect the pair to rise to 0.6468 levels

Resistance: 0.6468

Support: 0.6408

Pivot: 0.6449