Chart - Courtesy Trading View
Technical Analysis:
- NZD/USD trades rangebound around 5-DMA with session high at 0.6511 and low at 0.6476
- Price action is above cloud and 200-DMA, Chikou span is biased higher
- GMMA indicator shows major and minor trend are bullish
- Momentum is bullish and volatility is high and rising
- MACD and ADX support upside in the pair
Support levels - 0.6458 (200H MA), 0.6411 (21-EMA)
Resistance levels - 0.6509 (110-week EMA), 0.6550 (Upper BB)
Summary: NZD/USD trades with a bullish bias. Price action is struggling at 110-EMA resistance. Break above will fuel further gains. Next major bull target lies at 200-week MA at 0.6612.
