FxWirePro: NZD/USD Trade Idea

NZD/USD chart on Trading View used for analysis

NZD/USD Technical Analysis (1H chart): 
- Evening Star formation on daily charts
- Price action breaks below major trendline support at 0.6842
- Price has dipped below 1H 110-EMA at 0.6834
- MACD is on verge of bearish crossover on signal line

Fundamental Analysis:
- Cautious tone prevails across the Asian markets amid reports of another round of US-China trade talks
- FOMC meeting minutes will be looked upon for clues over the Fed's rate hike path for 2019
- Focus also on GDT price auction for further impetus

Support levels - 0.6812 (50% Fib), 0.6792 (converged 1H 200-SMA and 61.8% Fib)
Resistance levels - 0.6838 (1H 5-SMA), 0.6860 (session high), 0.6893 (Feb 18 high)

Recommendation: Stay short around 0.6835/40, SL: 0.6860, TP: 0.6812/ 0.6790

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.