NZDUSD bearish bias, Beware of rebound in Stochastic H4

MarketWatch - overall bias remains bearish for NZDUSD, especially for the price still stuck below the signal MA 50-100-200 in the 4 hours chart. However, with the Stochastic indicator that moves up, chances are it can provide opportunities rebound in the short term.

To the downside, immediate support seen at 0.6245 area, breaking down of the region the price likely to continue the bearish movement to test the 0.6190 area before aim for 0.6125 strong support area. Meanwhile to the upside, immediate resistance levels seen at 0.6375 area, breaking through to the top of the region is likely price will move along at least neutral instructions to test the 0.6470 area before targeting to an area of strong resistance at 0.6530.

Resistance levels: 0.6375, 0.6470, 0.6530
Support levels: 0.6245, 0.6190, 0.6125