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FxWirePro: NZD/USD rangebound above 200-DMA support, bias neutral

Chart - Courtesy Trading View 

Technical Analysis: Bias Neutral

- NZD/USD was trading largely muted at 0.6947 at around 13:10 GMT

- The pair was rangebound on the day with session high at 0.6966 and low at 0.6934

- Price action capped below weekly cloud, the pair is capped below for the past 3 weeks

- 200H MA is immediate support at 0.6942, breach below will drag the pair lower

Support levels - 0.6942 (200H MA), 0.6906 (200-DMA), 0.6898 (21-EMA)

Resistance levels - 0.6955 (61.8% Fib), 0.70 (Weekly cloud), 0.7034 (Upper BB)

Summary: NZD/USD forms subsequent Doji formations on the daily candles denting upside. The pair is extending sideways above 200-DMA, retrace below will negate any further upside in the pair. 
 

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