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Chart - Courtesy Trading View
Technical Analysis:
- NZD/USD was trading 0.96% lower on the day at 0.6184 at around 05:50 GMT.
- The pair hovers around strong trendline support at 0.6190, break below will see more weakness
- MACD and ADX support downside in the pair, Chikou span is biased lower
- GMMA indicator shows major and minor trend are bearish
- Price action is below major moving averages which are trending lower
Major Support Levels:
S1: 0.6148 (Lower BB)
S2: 0.5920 (May 2020 low)
Major Resistance Levels:
R1: 0.6236 (5-DMA)
R2: 0.6276 (200H MA)
Summary: NZD/USD trades with a bearish bias. Watch out for close below trendline support for further downside.
