NZD/USD chart - Trading View
- NZD/USD edges higher from session lows at 0.7041, finds strong support at 21-EMA
- Price action has slipped below 200H MA and intraday techs support weakness
- Analysis of GMMA indicator shows major trend is bullish, but minor trend is turning bearish
- RSI and Stochs are on verge of rollover from overbought levels
- Bearish divergence on RSI and Stochastics on the daily charts keeps scope for downside
- Price action is above cloud, but Chikou span is biased lower
Support levels - 0.7042 (21-EMA), 0.7112 (5-DMA), 0.7145 (Upper BB)
Resistance levels - 0.7095 (200H MA), 0.6981 (Lower BB), 0.6903 (55-EMA)
Summary: NZD/USD is extending weakness for the 3rd straight session. Scope for further downside on decisive break below 21-EMA.
