NZD/USD rebounds off lows, en-route to 0.8760

FXStreet (Bali) - NZD/USD is trading at 0.8756, down -0.20% on the day, having posted a daily high at 0.8783 and low at 0.8737.

How strong has the move been?

The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish. Currently RSI is at 44.37, up from the last hourly print at 42.45, with ADX at 22.45, up from its previous close at 20.50. Daily RSI sits at 66.51, in neutral territory. Looking to momentum indicators, the hourly 200 SMA is currently at 0.8767, up from the last close at 0.8718 and climbing. Over the past 20 days, the exponential average closing price is 0.8662, and trending higher.

What price levels and patterns have to be considered?

Current price is 0.8759, with resistance ahead at 0.8765 (Hourly 20 EMA), 0.8775 (Daily Classic PP), 0.8777 (Daily Open), 0.8780 (Monthly High) and 0.8780 (Weekly High). Next support to the downside can be found at 0.8755 (Daily Classic S1), 0.8753 (Yesterday's Low), 0.8744 (Weekly Classic PP), 0.8737 (Daily Low) and 0.8735 (Hourly 100 SMA). Looking at price patterns, we can see a Doji and Hammer 1-hour candlestick formation,