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NZD/USD chart - Trading View
NZD/USD was trading 0.18% lower on the day at 0.7088 at around 06:50 GMT, outlook bearish.
The greenback consolidates previous session's gains as markets await the key NFP data later today in the NY session.
The dollar rebound on Thursday was mainly driven by the markets still pricing in of a mid-2022 Fed rate hike, despite the dovish take by Chair Jerome Powell on Wednesday.
Technical indicators for the pair are biased lower. Stochs and RSI are sharply lower. MACD confirms a bearish crossover on signal line.
Price action is now below 200H MA and GMMA indicator show major and minor trend are bearish on the intraday charts.
Focus now on the crucial US Non-Farm-Payrolls data for impetus. Caution ahead of the critical US NFP release weighs down on the antipodeans.
Major Support Levels:
S1: 0.7062 (55-EMA)
S2: 0.7053 (110-EMA)
S3: 0.6989 (55-week EMA)
Major Resistance Levels:
R1: 0.7096 (200-DMA)
R2: 0.7126 (5-DMA)
R3: 0.7134 (50% Fib)
Summary: NZD/USD trades with a bearish technical bias. Close below 200-DMA will open downside. Scope for dip till 0.70 level.
