NZD/USD chart - Trading View
NZD/USD was trading 0.04% lower on the day at 0.7154 at around 06:15 GMT, after Doji formation on Friday's candle.
The major edged higher from session lows after People’s Bank of China (PBOC) matched wide market forecasts and kept rates unchanged.
The central bank kept one-year and five-year loan prime rates (LPR) unchanged at 3.85%, 4.65% respectively.
Ongoing virus woes and vaccine jitters keep upside limited. Focus on Fed speeches during the week for impetus.
NZD/USD has been trading in a Rising Channel pattern and is on verge of breach of channel support.
Price action is consolidating below daily cloud and technical indicators keep scope for further weakness.
The pair is on track to test 110-EMA at 0.7064. Retrace above 200H MA will negate any bearish bias.
