Chart - Courtesy Trading View
Technical Analysis:
- NZD/USD was trading largely muted at 0.6313 at around 10:05 GMT
- The pair range bound, struggles to extend previous session's gains
- Price action is below major moving averages which are trending lower
- GMMA indicator shows major and minor trend are bearish
- Bullish RSI divergence on the daily charts keeps scope for some upside
Support levels:
S1:0.6303 (5-DMA)
S2: 0.6177 (Lower BB)
Resistance levels:
R1: 0.6356 (21-EMA)
R2: 0.6374 (20-DMA)
Summary: NZD/USD comatose around 5-DMA. Major trend is bearish. That said, watch out for retrace above 21-EMA for further upside.
