Chart - Courtesy Trading View
Technical Analysis: Bias Bearish
GMMA Indicator
- Major trend is bearish, while minor trend is turning bearish
Ichimoku Analysis
- Price action is below cloud and Chikou span is biased lower
Oscillators
- Stochs and RSI show bearish momentum is gaining strength
- Stochs are on verge of bearish rollover from overbought zone
- RSI is below 50 mark and is turning South
Bollinger Bands
- Bollinger bands are narrow and constricted
Major Support Levels: 0.6780 (20-DMA), 0.6745 (200-week MA), 0.6675 (Lower W BB)
Major Resistance Levels: 0.6809 (21-EMA), 0.6842 (Upper BB), 0.6890 (55-EMA)
Summary: NZD/USD was trading with a bearish technical bias. Failure of bulls to take price above 21-EMA has reinforced bearish bias. Resumption on weakness likely below 20-DMA. Scope for test of 200-week MA at 0.6745.
