NZD/USD chart on Trading View used for analysis
- NZD/USD has halted downside at 4H 200-SMA support at 0.68 level.
- The pair is edging lower as the kiwi is tracking weakness in the Australian dollar.
- The antipodeans await clues from the two-day Washington visit by China’s Vice Premier Liu He.
- With no major data scheduled from New Zealand during Thursday, focus shall be on the US-China trade talks.
- Technical indicators on the intraday charts have turned bearish. Scope for weakness till 200-DMA at 0.6752.
- 5-DMA has turned and is immediate resistance at 0.6854. Break above negates bearish bias.
Support levels - 0.6808 (4H 200-SMA), 0.6776 (110-EMA), 0.6752 (200-DMA)
Resistance levels - 0.6830 (20-DMA), 0.6853 (5-DMA), 0.6893 (Feb 18 high)
Recommendation: Stay short below 0.68, SL: 0.6830, TP: 0.6775/ 0.6755
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.