- Monday’s Doji candle indicates indecision in the NZD/USD market.
- A close above Doji’s high is needed to confirm a bullish reversal.
NZD/USD has picked up a bid in Asia. As of writing, the currency pair is trading at 0.6365, representing 0.26% gains on the day.
The Kiwi Dollar created a Doji candle on the 50-day moving average (MA) support on Monday, signaling indecision and marking an end of the pullback from the Oct. 22 high of 0.6436.
The Doji candle would be validated and the outlook would again turn bullish if the spot closes Tuesday above Monday’s high of 0.6360. A bullish daily close could yield rise to the 100-day MA, currently at 0.6468.
Meanwhile, a close below Monday’s low of 0.6334 would imply a resumption of the sell-off fro the recent high of 006436 and yield a drop to 0.6241.
Daily chart
Trend: Neutral
Technical levels
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