Chart - Courtesy Trading View
NZD/USD was trading 0.41% higher on the day at 0.6754 at around 08:50 GMT.
The pair has bounced off cloud base support and decisive break below required for further downside.
MACD and ADX support downside in the pair. Momentum is strongly bearish.
The pair finds major support at 200-week MA at 0.6719. Price action has formed a Doji at 200 MA on the weekly charts.
The pair is grinding lower after failure to hold gains above 200-DMA. Price action is below major moving averages which are trending lower.
Support levels - 0.6719 (200-week MA), 0.67, 0.6648 (76.4% Fib)
Resistance levels - 0.6763 (5-DMA), 0.6781 (50% Fib), 0.6824 (55-EMA)
Summary: NZD/USD trades with a bearish bias. Watch out for break below daily cloud for downside continuation. Bearish invalidation likely above 200-DMA.
