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  |   Technicals


FxWirePro: NZD/USD Daily Outlook

Chart - Courtesy Trading View 

Technical Analysis:

- NZD/USD was trading largely muted at 0.6313 at around 10:05 GMT

- The pair range bound, struggles to extend previous session's gains

- Price action is below major moving averages which are trending lower

- GMMA indicator shows major and minor trend are bearish

- Bullish RSI divergence on the daily charts keeps scope for some upside

Support levels:

S1:0.6303 (5-DMA)

S2: 0.6177 (Lower BB)

Resistance levels:

R1: 0.6356 (21-EMA)

R2: 0.6374 (20-DMA)

Summary: NZD/USD comatose around 5-DMA. Major trend is bearish. That said, watch out for retrace above 21-EMA for further upside.

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