NZD/USD chart - Trading View
Technical Analysis: Bias Bearish
- NZD/USD was trading 0.25% lower on the day at 0.7132 at around 10:00 GMT
- Price action was rejected at session highs, slips below 5-DMA
- RSI has confirmed a bearish rollover from overbought levels
- Upside in the pair has paused at 61.8% Fib retracement
- Longer upper wicks on daily candles suggests selling pressure at highs
Support levels - 0.7134 (50% Fib), 0.71 (200H MA), 0.7097 (200-DMA)
Resistance levels - 0.7158 (5-DMA), 0.72, 0.7212 (61.8% Fib)
Summary: NZD/USD is extending weakness for the 3rd consecutive session. US dollar shows some bounce across the board as the Treasury yields recover ground. NZD/USD poised to test 0.71 levels. Break below will see further weakness.
