NZD/USD chart - Trading View
NZD/USD was trading largely muted on the day at 0.7041 at around 07:55 GMT, after closing 0.53% lower in the previous session.
Conditions look ripe for some pullback in the pair. Stochs and RSI are at overbought, on verge of a bearish rollover.
Also, the pair has formed a 'Shooting Star' pattern on the week charts in the previous week's trade, adding to the downside bias.
Price action has slipped below 5-DMA and the pair remains pivotal at 200H MA support (currently at 0.7033.
Break below 200H MA will see a dip till 21-EMA at 0.6948. Violation at 21-EMA eyes next major support at 55-EMA at 0.6812.
Major trend in the pair is bullish. Price action has paused at 78.6% Fib at 0.7111. Resumption of upside will see test of 88.6% Fib at 0.7320.
