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FxWirePro: NZD/USD refreshes 4-month lows, antipodeans under pressure as risk-off intensifies

NZD/USD chart - Trading View 

NZD/USD was trading 0.28% lower on the day at 0.6975 at around 04:55 GMT, extending previous session's slump.

The antipodeans under pressure as risk-off intensifies amid vaccine fears as well as geopolitical and trade worries emanating from China, North Korea.

Hurdles in the Sino-American trade deal and alleged human rights violations in Xinjiang joins North Korea’s missile tests to contribute to the risk-off mood.

NZD/USD closed a whopping 2.30% lower on Tuesday's trade and the pair is poised for further weakness.

Major Support Levels: 

S1: 0.6857 (200-DMA)

S2: 0.6829 (55W EMA)

S3: 0.6776 (200W MA)

Major Resistance Levels: 

R1: 0.7061 (converged 110-EMA and 21W EMA)

R2: 0.7090 (5-DMA)

R3: 0.7164 (55-EMA)

Summary: NZD/USD trades with a bearish bias. Price action has breached major supports at channel base, daily cloud, 100-DMA, 110-EMA and is now eying next major support at 200-DMA at 0.6857.
 

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