Chart - Courtesy Trading View
Technical Analysis: Bias Bearish
GMMA Indicator
- Major and minor trend are strongly bearish on daily and intraday charts
Ichimoku Analysis
- Price closed below weekly cloud in the previous week, opening downside
- The pair trades well below the daily cloud
Oscillators
- Momentum strongly bearish, Stochs are RSI are sharply lower
- Oversold conditions may cause some pullbacks
Bollinger Bands
- Bollinger bands are spread wide apart
- Volatility is high and rising
Major Support Levels: 0.6756 (200-week MA)
Major Resistance Levels: 0.6862 (5-DMA)
Summary: NZD/USD trades with a major bearish bias. Break below weekly cloud has opened downside. Scope for dip till 200-week MA.
