FxWirePro: NZD/USD holds 21-EMA support, break below to see weakness till 0.65
NZD/USD chart - Trading View
NZD/USD was trading 0.14% higher on the day at 0.6621 at around 04:40 GMT.
The pair has paused upside at 0.67 mark and has pulled back from 6-month highs at 0.6715 hit on July 31st trade.
Major trend in the pair is strongly bullish as evidenced by the GMMA indicator and pullbacks are likely to remain shallow.
A Golden Cross (bullish 50-DMA crossover on 200-DMA) support upside in the pair. Retrace has found strong support at 21-EMA.
Break below 21-EMA support could see more weakness in the pair. Drag till daily cloud and further till 200-DMA likely.
On the data front, focus remains on NZD GDT price Index and New Zealand Q2 unemployment data for impetus. U.S. Factory Orders could also influence price action.
Major Support - 0.6599 (21-EMA)
Resistance levels - 0.6643 (5-DMA)