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FxWirePro: NZD/USD Daily Outlook

Chart - Courtesy Trading View 

Technical Analysis: Bias Neutral

- NZD/USD was trading 0.17% lower on the day at 0.6794 at around 10:45 GMT

- The pair has snapped a two-day upside, finds stiff resistance at 50-DMA

- Momentum is bearish, RSI is below 50, Stochs are at oversold levels

- MACD and ADX support downside in the pair, price action hovers around 200H MA

Support levels: 

S1: 0.6763 (5-DMA)

S2: 0.6720 (200-week MA)

Resistance levels:

R1: 0.6815 (50-DMA)

R2 : 0.6835 (110-EMA)

Summary: NZD/USD struggles at 50-DMA and cloud top resistance. Major trend is bearish, while intraday bias is neutral. 
 

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