NZD/USD chart - Trading View
NZD/USD was trading 0.11% lower on the day at 0.6634 at around 08:10 GMT. The major is extending sideways for the 3rd straight session and technical bias is neutral.
Major and minor trend as evidenced by GMMA indicator is neutral on the daily and weekly charts.
Price action is just holding support above the Ichimoku cloud and Chikou Span has gone flat as price action extends consolidation.
Momentum has turned bearish on the weekly charts after upside was rejected at 200W MA resistance.
Focus will be Fed Chairman Jerome Powell's speech about the US economic outlook at the National Association of Business Economics annual meeting.
US President Trump’s recovery moves will be closely followed for near-term market performance.
Break below cloud finds next major support at 110-EMA at 0.6527. Breach at 110-EMA support eyes 200-DMA at 0.6389.
