FxWirePro: NZD/USD Daily Outlook

NZD/USD chart on Trading View used for analysis

• NZD/USD slumps lower on broad-based kiwi weakness. Oil weakness weighing on the antipodeans.
   
• The major is trading 0.49% lower on the day at 0.6779 at the time of writing.
   
• Price action was rejected at 200-DMA and any bullish continuation only on break above.
   
• The pair is on track to test 110-EMA at 0.6716. Break below to see further weakness.
   
• New Zealand quarterly Retail Sales data due for release early Monday session will be in focus for further impetus.

Support levels - 0.6716 (110-EMA), 0.67, 0.6676 (55-EMA)

Resistance levels - 0.6810 (5-DMA), 0.6877 (200-DMA), 0.69

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