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FxWirePro: NZD/USD Daily Outlook

Chart - Courtesy Trading View 

Technical Analysis: Bias Bearish

- NZD/USD extends weakness for the 3rd straight session, outlook bearish

- Price action has slipped below 200H MA on the intraday charts

- Recovery in the pair was rejected at 21-EMA, Doji formation at 21-EMA resistance aids downside

- 5-DMA caps upside, price action is below major moving averages which are trending lower

Support levels - 0.66, 0.6529 (Yearly low), 0.6466 (50% Fib)

Resistance levels - 0.6647 (200H MA),  0.6650 (5-DMA), 0.6669 (21-EMA)

Summary: NZD/USD poised for further downside. Dip till 50% Fib retracement at 0.6466 likely.
 

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