Bearish bounce on the NZD/USD from the 0.7600 level

The US Dollar has recovered some of its losses towards the middle of today’s session and that is why we see that the NZD/USD has come back to the downside and it couldn’t stay above the 0.7600 level. However, when the pair reached the 55 exponential moving average (purple line) on the 4 hour chart, it stalled at the level and it is currently leaving a relatively lower shadow. None the less, a little bit lower we can also see a good support level at the 0.7500 level where the 200 period exponential moving average (blue line) is also crossing. If there is a visit to the 0.7500 level, we could see a bounce to the upside from there.