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.
