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.
