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.
