Chart - Courtesy Trading View
Technical Analysis:
- NZD/USD was trading 0.29% higher on the day at 13:35 GMT
- The pair has snapped a 5-day bearish streak
- Price action has retraced back into the daily cloud
- GMMA indicator shows major and minor trend are bearish
- MACD and ADX support downside in the pair, MACD shows bearish crossover on signal line
Support levels - 0.6152 (Lower BB), 0.6060 (July 2022 low)
Resistance levels -0.6247 (5-DMA), 0.6280 (21-EMA)
Summary: NZD/USD trades with a bearish bias. Upside lacks traction, scope for further downside.
