NZD/USD chart - Trading View
NZD/USD was trading 0.21% higher on the day at 0.7051 at around 06:40 GMT.
The pair has paused 3 straight sessions of downside, finds strong support at 21-EMA.
Major trend as evidenced by the GMMA indicator remains bullish, but minor signs of weakness seen on the intraday charts.
A 'Death Cross' (bearish 50-DMA crossover on 200-DMA) on the hourly charts adds to the bearish bias.
Price action is below 200H MA and breach at 21-EMA support will drag prices lower. Next major support lies at lower BB at 0.6985.
Bounce off 21-EMA and retrace above 5-DMA will negate any bearish bias. Resumption of upside will see gains till 88.6% Fib at 0.7320.
