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Chart - Courtesy Trading View
Technical Analysis: Bias Neutral
- NZD/USD was trading 0.25% higher on the day at 0.6447
- The pair has paused downside with Doji formation on the previous session's candle
- Upside remains capped at 5-DMA, break above could see more upside
- GMMA indicator shows major and minor trend are bearish
- Price action is below major moving averages which are trending lower
Support levels - 0.64, 0.6358 (Lower BB), 0.63
Resistance levels - 0.6449 (5-DMA), 0.65, 0.6526 (200H MA)
Summary: NZD/USD trades with a major bearish bias. Upside is likely to be limited. FOMC meeting in focus for impetus.
