FxWirePro: NZD/USD retains bearish bias, upbeat New Zealand trade surplus data fails to impress Kiwi bulls
FxWirePro: Copper holds Wedge base support, further weakness only on break below
Copper chart - Trading View
Copper erases early losses and was trading 0.39% higher at 2.85 at around 13:40 GMT.
Price action extends in 'Rising Wedge' pattern. Pullback is holding support at wedge base.
RSI is flat, but holds above 50 mark. Stochs are showing a turn from near oversold levels.
GMMA indicator shows major trend in the pair is bullish. Bounce off wedge base can see upside resumption.
21-EMA is capping upside at 2.8660. Break above will see test of 3.0 mark. Breach at wedge base negates upside bias.
Support levels - 2.80 (Wedge base), 2.75 (55-EMA)
Resistance levels - 2.86 (21-EMA), 2.89 (20-DMA)