NZD/USD chart - Trading View
NZD/USD extends weakness for the 3rd straight session, remains capped below 20-DMA.
Price action has slipped below 1H 200-SMA, intraday bias has turned bearish.
Risk-off sentiment adds pressure on the Kiwi as China steps up counter measures on U.S. tariffs.
RSI has turned South as Stochastics RSI approaches overbought zone.
'Death Cross' on the daily charts keeps bias lower. Resumption of downside will see test of trendline support at 0.6475.
Major trend is bearish. 20-DMA is strong resistance at 0.6559. Break above could see minor upside.
Support levels - 0.65, 0.6475 (trendline), 0.6424 (Oct 8 low)
Resistance levels - 0.6535 (5-DMA), 0.6559 (20-DMA), 0.6567 (21-EMA)
Recommendation: Good to go short on upticks, SL: 0.66, TP: 0.65/ 0.6475/ 0.6430
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
