NZDUSD In Bearish Pressure, Chance To Test 0.6200

Bias for NZDUSD still likely bearish, with prices still stuck below the signal MA 50-100-200 in the 4 hours chart. In addition, the MACD indicator is still below its midline and Stochastic appears to still be moving down, support the bearish bias on NZDUSD.

To the downside, immediate support seen at 0.6310 area, breaking down of the area prices could move further bearish pressure towards 0.6255 area before targeting to the strong support area at 0.6200. Meanwhile to the upside, immediate resistance levels seen at 0.6375 area, breaking through to the top of the area can move prices further upside towards 0.6430 area before trying to target the strong resistance area at 0.6485.


Resistance levels: 0.6375, 0.6430, 0.6485
Support levels: 0.6310, 0.6255, 0.6200