Chart - Courtesy Trading View
Technical Analysis: Bias turning Bullish
- NZD/USD was trading 0.65% higher on the day at 0.6842 at around 12:45 GMT
- The pair has paused 2-day downside and edged higher amid improving market sentiment
- Price action has retraced dip below 110-EMA, edged above 5-DMA
- GMMA indicator shows minor trend is bullish, while major trend is turning bullish
- Volatility is high as evidenced by wide spread Bollinger bands, momentum with the bulls
Support levels - 0.6824 (5-DMA), 0.68, 0.6755 (55-EMA)
Resistance levels - 0.6873 (Upper BB), 0.69, 0.6924 (200-DMA)
Summary: NZD/USD was trading with a slightly bullish bias. Weakness only on break below daily cloud. Scope for re-test of 200-DMA.
