FxWirePro: NZD/USD extends weakness, eyes 55-EMA support at 0.65
NZD/USD chart - Trading View
NZD/USD was trading 0.16% lower on the day at 0.6536 at around 05:55 GMT.
The pair is extending downside after a dovish RBNZ on Wednesday dented the kiwi across the board.
Price action has broken below major trendline 50-DMA support and further weakness on charts.
Oscillators are biased lower and a bearish divergence on RSI and Stochastics on the daily charts adds to the downside bias.
Dip till daily cloud likely. Major trend is neutral to slightly bullish. Further weakness only on break into cloud. Bullish invalidation below 200-DMA.
Support levels - 0.6506 (55-EMA), 0.6491 (Cloud top)
Resistance levels - 0.6567 (5-DMA), 0.6592 (21-EMA)