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FxWirePro: NZD/USD recovery rejected at highs, break below 0.6785 to plummet prices further

NZD/USD chart - Trading View 

NZD/USD recovery rejected at highs, pair forms 'Gravestone Doji' on previous session's candle.

Technical indicators support further weakness in the pair. 'Death Cross' on daily set to plummet prices further.

Momentum with the bears. RSI well below 50 and Stochs and 5-DMA are sharply lower. 

GMMA indicators suggests major bias is lower. Bearish 5-DMA crossover on 20-DMA supports weakness.

Breach at trendline support at 0.6487 eyes lower BB at 0.6457 ahead of 0.6424 (Oct 8 lows).

5-DMA is immediate resistance at 0.6524. Break above 110-EMA negates bearish bias.

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
 

By Anupama Grandhi
  • Market Data
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