NZD/USD chart - Trading View
Technical Analysis:
Moving Averages: All major MAs are biased higher
Bollinger Bands: Wide and expanding
Oscillators: Stochs and RSI are at overbought levels, but no signs of retrace
MACD: Bullish MACD crossover on signal line, bias higher
ADX: Positive DMI dominance, ADX at 40 and rising
GMMA Indicator: Long and short term MAs are rising, suggests major and minor trend are bullish
NZD/USD trades above 200 month MA for the first time since June 2018. The pair is in a major bull trend and is currently hovering around 88.6% Fib at 0.7320. The pair is all set to challenge the 2018 high of 0.7437.
Focus remains on how the Democrats gain the Senate and any hints of further escalations in the US-China trade tussle as well as Japan’s and UK's covid emergencies. On the data front, markets will be closely watching U.S. ISM Services PMI later today ahead of Non-farm Payrolls due Friday for impetus.
