NZD/USD Technical Analysis: chipping away at the 200-HMA hurdle

The NZD/USD pair is struggling to clear the 200-hour moving average (HMA) hurdle, having rallied more than 150 pips in the last six days.

Hourly chart

• As seen above, the pair has charted bullish-higher lows and higher highs pattern. The 50-hour MA is trending north in favor of the bulls, having cut the 100-hour MA from below (bullish crossover). The pair is still having a tough time the 200-HMA in a convincing manner. As of writing, that HMA is located at 0.6755.
• Notably, the outlook remains bearish while the pair is trading below 0.68.

4-hour chart

• On the 4-hour chart, the pair is still trading in bearish territory below 0.68 - neckline of the head-and-shoulders pattern.
• NZD/USD has also charted a bearish-lower high and lower low pattern. Further, 50-, 100-, and 200-candle MAs are sloping downwards in favor of the bears.

Trend: bearish