FxWirePro: NZD/USD extends gradual grind higher, positive risk sentiment supports antipodeans

NZD/USD chart - Trading View 

NZD/USD was trading 0.27% higher on the day at 0.6568 at around 03:40 GMT, after closing 0.13% higher in the previous session.

The pair is extending a gradual grind higher after back-to-back Doji formations in the previous week's trade.

Price action in the pair finds support from the broad-based US dollar weakness and positive risk sentiment which buoys the antipodeans.

Hopes for a breakthrough in the US stimulus deadlock and expectations that the COVID-19 cure will soon be rolled out soon keep sentiment buoyed.

Major trend is bullish and the pullback has held support at 110-EMA. Price action has edged above 5-DMA.

GMMA is showing a slight shift in near-term bias. Resistance on the upside lies at 55-EMA and retrace above 21-EMA could change near-term trend.

On the flipside, breach at 110-EMA support will see further weakness. Little support seen thereafter till 200-DMA at 0.6390.

Support levels - 0.6517 (110-EMA), 0.6390 (200-DMA)

Resistance levels - 0.6599 (55-EMA), 0.6629 (21-EMA)