Chart - Courtesy Trading View
Technical Analysis:
- NZD/USD was trading 0.88% higher on the day at 0.6361 at around 12:10 GMT
- The pair has broken above 55-EMA and edged above daily cloud
- GMMA indicator shows major and minor trend are neutral
- RSI is biased higher and stochs are on verge of bullish rollover from oversold levels
- Pullback on account of bearish RSI divergence has bounced off cloud support
Support levels - 0.6323 (5-DMA), 0.6255 (110-EMA)
Resistance levels - 0.6390 (21-EMA), 0.6421 (20-DMA)
Summary: NZD/USD has paused downside at daily cloud support. Price action is testing 50-DMA resistance. Watch for decisive break above for upside continuation.
