Chart - Courtesy Trading View
Technical Analysis:
- NZD/USD was trading 0.68% lower on the day at 0.6087 at around 12:25 GMT
- The pair is extending weakness for the third straight week, outlook is bearish
- GMMA indicator shows major and minor trend are strongly bearish
- Price action is below cloud and Chikou span is biased lower
- Momentum is strongly bearish, volatility is high and rising
Support levels - 0.6067 (Lower BB), 0.60
Resistance levels - 0.6128 (5-DMA), 0.6157 (200H MA)
Summary: NZD/USD was trading with a strong bearish bias. The pair has hit fresh 2-year lows at 0.6077, scope for further weakness.
