NZD/USD chart - Trading View
- NZD/USD is extending marginal gains for the 2nd straight session.
- Upside however remains capped at 5-DMA at 0.6749.
- Price action is below cloud and major moving averages, bias is bearish.
- The pair has retraced brief dip below 200-DMA which is strong support at 0.6733.
- Break below 200-DMA will confirm further weakness. Dip till 61.8% Fib at 0.6632 likely.
- On the flipside, break above 5-DMA and retrace into daily cloud could see upside till 0.6830 (cloud top).
Support levels - 0.6733 (200-DMA), 0.6696 (50% Fib)
Resistance levels - 0.6749 (5-DMA), 0.6794 (110-EMA)
Recommendation: Watch out for break below 200-DMA to go short.
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
