NZD/USD chart - Trading View
- NZD/USD finds selling pressure at session highs at 0.6682.
- The pair has slipped lower to trade at 0.6660 at 0550 GMT.
- Antipodeans under pressure after weaker-than-expected China Manufacturing PMIs.
- The major is in a near-term downtrend and price is struggling to break past 0.6680 since the past 3 sessions.
- The pair is holding above 1H 200 SMA support (currently at 0.6659). Break below will see further weakness.
- Next support lies at 5-DMA at 0.6640. Violation there will see test of 0.66 (Lower BB).
- Break above 0.6682 finds next major resistance at 0.6707 (converged 20-DMA and 21-EMA).
Data/Event Watch:
- FOMC meeting, U.S. ISM manufacturing, U.S. NFP
Support levels - 0.6658 (1H 200-SMA), 0.6640 (5-DMA), 0.66 (Lower BB)
Resistance levels - 0.6682 (Apr 26 high), 0.6707 (converged 20-DMA and 21-EMA), 0.6726 (200-DMA)
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
