FxWirePro: NZD/USD Daily Outlook

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FxWirePro: NZD/USD Daily Outlook

Friday, July 1, 2022 6:03 AM UTC

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.

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FxWirePro : EUR/NZD downtrend extends ,eyes 23.6% fib support

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