Major Pairs Action Bias: USDCAD and USDCHF Stand Out as Extremely Bullish While GBPUSD and NZDUSD Turn Extremely Bearish 
FxWirePro: USD/ CNY remains soft ahead of Fed decision 
FxWirePro: EUR/ AUD gains some ground , but remains on bearish path 
EUR/JPY Holds Bullish Bias as Euro Extends Recovery 
FxWirePro: NZD/USD edges lower, remains on back foot 
FxWirePro: AUD/USD dips after RBA Governor speech 
NZDJPY Pullback: Sell Rallies Toward 93.30 as Yen Weakness Eases 
FxWirePro: GBP/NZD maintains bersish bias with focus on 2.2900 level 
FxWirePro: AUD/USD falls after softer-than-expected Australian Q2 CPI 
AUDJPY Weakness Deepens: Sell Rallies Toward 112 as Aussie Dollar Falters 
FxWirePro: GBP/AUD downside pressure builds, key support level in focus 
FxWirePro- Woodies pivot (Major) 
EUR/USD Bounces from Monthly Low, But Bearish Pressure Remains 
JPY Action Bias: USDJPY Emerges as the Clear Bullish Pair to Watch Amid Mixed Crosses 
FxWirePro : USD/JPY holds relatively bid on 163 ahead Of FOMC,BoJ meetings 
FxWirePro: GBP/USD edges higher as traders await BoE guidance and UK fiscal clarity 
NZD/USD chart - Trading View
Spot Analysis:
NZD/USD was trading 0.21% higher on the day at 0.7258 at around 05:00 GMT.
Previous Week's High/ Low: 0.7316/ 0.7158
Fundamental Overview:
Trading remains muted amid mixed data and holiday-thinned trade with the U.S. remaining closed on account of Memorial Day.
On the data front, China NBS Manufacturing PMI eased below 51.1 forecast and prior to 51.1 in May.
Meanwhile, China Non-Manufacturing PMI printed at 55.2, marking a big beat on market consensus at 52.7 and 54.9 previous readouts.
Further, the Australia and New Zealand Banking Group’s (ANZ) Business Confidence and Activity Outlook for May dropped below 7 and 32.3% levels to 1.8 and 27.1% respectively.
Among the risk catalysts, New Zealand’s worries of escalating tussles with China along with Sino-American tussles test the market optimism.
That said, hopes of further stimulus from the US and the Fed’s ability to keep the easy money on keep downside limited.
Technical Analysis:
- Technical bias for the pair is bullish, scope for upside.
- GMMA indicator shows major and minor trend are bullish.
- Price action is above cloud and major moving averages.
- Oscillators are biased higher and volatility is high.
Major Support and Resistance Levels:
Support - 0.7220 (21-EMA), 0.7184 (55-EMA), 0.7125 (110-EMA)
Resistance - 0.73 (Psychological mark), 0.7310 (Upper BB), 0.7320 (88.6% Fib)
Summary: NZD/USD trades muted, but bias remains bullish. Scope for test of 88.6% Fib at 0.7320 ahead of yearly high at 0.7464. Bullish invalidation only below 200-DMA.
