Chart - Courtesy Trading View
- NZD/USD was trading 0.26% lower on the day at 0.6738 at around 11:25 GMT
- The pair is extending weakness for the 4th straight session, outlook is bearish
- Momentum is bearish, Stochs and RSI are sharply lower
- Volatility is high and rising as evidenced by widening Bollinger bands
- GMMA indicator shows near-term trend has turned bearish on the daily charts
- Major moving averages are biased lower and 5-DMA caps upside in the pair
Support levels - 0.6727 (Cloud base), 0.6722 (61.8% Fib), 0.6648 (76.4% Fib)
Resistance levels - 0.6783 (5-DMA), 0.6827 (55-EMA), 0.6833 (200H MA)
Summary: NZD/USD trades with a bearish bias. Break below cloud will drag the pair lower. Scope for test of 76.4% Fib at 0.6648.
