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.
