- The NZD/USD is defending the 200-hour moving average (MA) amid oversold conditions, the hourly chart shows.
- A minor corrective rally to 0.6650 could be in the offing before the bearish move unfolds.
- Acceptance below the 200-hour MA of 0.6623 would allow a drop below 0.66 (psychological level).
Spot Rate: 0.6630
Daily High: 0.6640
Daily Low: 0.6620
Trend: Mildly bullish
R1: 0.6663 (100-hour MA)
R2: 0.6681 (resistance as per the hourly chart)
R3: 0.67 (psychological level)
S1: 0.6623 (200-hour MA)
S2: 0.6612 (61.8% Fib R of 0.6544/0.6721)
S3: 0.66 (psychological level)