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Chart - Courtesy Trading View
NZD/USD was trading largely unchanged at 0.6365 at around 09:00 GMT.
The pair has edged higher from session lows at 0.6300, finds strong support at 21-EMA.
5-DMA is biased lower and caps upside in the pair. Price action is below 200H MA.
Momentum is bearish. Stochs and RSI are biased lower. Bearish RSI divergence raises scope for downside.
Data released earlier showed New Zealand Business confidence has plummeted to a fresh record low in December, down 13 points to -70.
Support levels:
S1: 0.6305 (21-EMA)
S2: 0.6260 (200-DMA)
Resistance levels:
R1: 0.6380 (5-DMA)
R2: 0.6392 (200H MA)
Summary: NZD/USD trades with a bearish bias. Watch out for break below 21-EMA for further weakness. Next major support lies at 200-DMA at 0.6260.
