NZD/USD chart - Trading View
NZD/USD has ignored a Doji formation on the previous day's candle, resumes weakness below 200-DMA.
Break below 200-DMA finds next major support at 21-EMA at 0.6688. Violation at 21-EMA to see downside till 55-EMA at 0.6658.
Price action is currently consolidating break below 200-DMA, 5-DMA is now sharply lower.
RSI has turned lower and Stochs are showing a rollover into neutral from overbought levels.
Break below will 21-EMA will accentuate weakness. Next major support lies at daily cloud at 0.6632.
Breach below cloud required for bearish continuation. Retrace above 200-DMA will see further consolidation.
Support levels - 0.6688 (21-EMA), 0.6658 (55-EMA), 0.66 (Lower BB)
Resistance levels - 0.6721 (200-DMA), 0.6784 (Upper BB), 0.68
Recommendation: Good to go short on upticks, SL: 0.6725, TP: 0.6675/ 0.6658/ 0.66
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
