NZD/USD chart - Trading View
NZD/USD dives over 0.50% on the day to trade at 0.7186 at around 10:00 GMT, after closing 0.15% higher on Thursday's trade.
Hopes of US President Joe Biden’s covid relief plan and vaccine optimism keep the U.S. dollar supported. DXY has paused downside and edged 0.22% higher on the day.
Price has slumped below 200H MA and is poised for further weakness on the intraday charts. The pair is hovering above daily cloud and break below will see weakness.
US Michigan Consumer Sentiment Index due today at 15:00 GMT will be watched for further impetus.
Dips in the pair have on multiple occasions bounced off 50-DMA support. Breach into cloud will find strong support at 50-DMA. Violation at 50-DMA will open downside.
Major supports for the pair align at 0.7179 (cloud top), 0.7153 (50-DMA), 0.7112 (55-EMA). While resistances are seen at 0.7216 (5-DMA), 0.7255 (Upper BB), 0.7320 (88.6% Fib).
