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FxWirePro: NZD/USD Daily Outlook

Chart - Courtesy Trading View 

Technical Analysis: Bias Bearish

- NZD/USD was trading 0.04% higher on the day at 0.6747 at around 08:45 GMT.

- GMMA indicator shows major and minor trend are strongly bearish

- Bearish 5-DMA crossover on 20-DMA adds to the downside bias

- Momentum is bearish, Stochs and RSI are sharply lower and RSI is below 50 mark

- MACD is on verge of bearish crossover on signal line. ADX supports upside

- 200-week MA is offering strong support at 0.6743, break below to see further downside

Support levels - 0.6743 (200-week MA), 0.6702 (38.2% Fib)

Resistance levels - 0.6775 (5-DMA), 0.68 (21-EMA)

Summary: NZD/USD trades with a bearish bias. Scope for dip till 0.67 levels. 
 

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