Chart - Courtesy Trading View
Technical Analysis: Bias Bearish
- NZD/USD was trading 0.16% higher on the day at 0.7053 at around 05:55 GMT
- The pair is extending gains for the 2nd straight session
- 5-DMA is sharply lower, price action is below major moving averages
- volatility is high and rising as evidenced by widening Bollinger bands
- Momentum is bearish, RSI is well below the 50 mark
Support levels - 0.6987 (Daily cloud), 0.6960 (23.6% Fib), 0.6935 (Trendline)
Resistance levels - 0.7060 (5-DMA), 0.7094 (200-DMA), 0.71
Summary: NZD/USD was trading with a bearish bias. 5-DMA caps upside at 0.7060, decisive break above could change near-term dynamics.
