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NZD/USD chart - Trading View
NZD/USD correction runs out of steam, the major is extending declines for the 3rd straight session.
Antipodeans under pressure amid looming US-China trade risks and in-line Chinese CPI and PPI data.
Price action has slipped below 21-EMA and technical indicators on the daily charts have turned bearish.
RSI has slipped below the 50 mark and Stochs have rolled over from overbought levels.
The pair has erased most of previous session's gains, scope for further downside.
A 'Death Cross' formation on the daily charts is likely to keep pressure lower.
Break below 20-DMA opens up further downside, test of 0.6485 (trendline support) then likely.
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
