FxWirePro: NZD/USD finds stiff resistance at 200-DMA and cloud, 'Bearish Gartley' keeps scope for weakness

NZD/USD chart - Trading View 

NZD/USD trades 0.25% lower on the day at 0.6688 at 07:45 GMT.

The pair retraced above 23.6% Fib with a Doji at lows, but bulls find stiff resistance at 0.67 region.

200-DMA (0.6709) and cloud top (0.6710) offer stiff resistance. Upside only on breakout above.

Technical indicators are turning bearish on the intraday charts. Oscillators are on verge of roll back from overbought levels.

Further, a 'Bearish Gartley' pattern formed on the daily charts keeps scope for weakness.

Focus will now be on the U.S. Non-farm Payrolls report and the implications for the FOMC this month.

GMMA on the daily charts shows change of trend (bias turning bullish). Short-term moving averages have crossed over the longer-term moving averages.

Breakout at 200-DMA and cloud will see upside till 0.6862 (55W EMA). Break below 110-EMA could see weakness till 0.6630.

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