NZDUSD bearish bias, Beware of resistance at 0.6530

Bias for NZDUSD still likely bearish to this day as the price is still stuck below the signal MA 50-100-200 in the 4-hour chart and the MACD are still in the negative area. However, we may see a rebound in the short term because the Stochastic indicator that looks to be moving up.

For the upside, closest resistance levels seen at 0.6505 area, breaking through to the top of the zone rates will likely move along at least neutral in the short term test instructions to the 0.6530 area before targeting to an area of strong resistance at 0.6580. If the price is still moving below the 0.6530 area, the bearish trend is quite strong with immediate support seen at 0.6430 area, breaking down of the area prices could move further bearish pressure towards 0.6405 area before testing to the strong support area at 0.6350.

Resistance levels: 0.6505, 0.6530, 0.6580
Support levels: 0.6430, 0.6405, 0.6350