Chart - Courtesy Trading View
Technical Analysis:
- NZD/USD was trading 0.55% lower on the day at 0.6455 at around 10:40 GMT
- The pair is extending downside for the 3rd straight session, bias is still bearish
- Price action has slipped below 200H MA, upside remains capped at 5-DMA
- Momentum is turning bearish, RSI is biased lower, Stochs on verge of bearish rollover from overbought levels
- GMMA indicator shows major trend is bearish, while minor trend is turning bearish
Major Support Levels:
S1: 0.6425 (20-DMA)
S2: 0.6409 (23.6% Fib)
Major Resistance Levels:
R1: 0.6477 (21-EMA)
R2: 0.6497 (5-DMA)
Summary: NZD/USD trades with a bearish bias. Bears eyes 20-DMA support at 0.6425. Breach below will drag the pair lower below 0.64 handle.
