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NZD/USD has strong support at 0.6500, a level from which the pair has bounced off multiple times since Nov 6th.
- The pair has dipped below the 100 DMA at 0.6539, Stochs are at neutral but show bearish crossover
- Watch-out for breaks below 0.6500 for further weakness in the pair, correction till 0.6428 then likely
- Immediate resistance is located at 0.6581 (Daily High Nov 25), while support on the downside is located at 0.6517 (daily Tenkan)
Resistance Levels:
R1: 0.6581 (Daily High Nov 25)
R2: 0.6606 (Daily High Nov 20)
R3: 0.6625 (Daily High Nov 6)
Support Levels:
S1: 0.6517 (daily Tenkan)
S2: 0.6500 (Trendline connecting multiple bottoms)
S3: 0.6468 (Daily Low Nov 19)
