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FxWirePro: NZD/USD Trade Idea

Thursday, November 15, 2018 4:59 AM UTC

NZD/USD chart on Trading View used for analysis

FxWirePro Currency Strength Index for NZD/USD: Bias Bullish
FxWirePro's Hourly NZD Spot Index was at 122.622 (Bullish)
FxWirePro's Hourly USD Spot Index was at -114.157 (Bearish)

Technical Analysis: Bias Bullish
- Momentum studies bullish
- RSI above 50, bias higher
- MACD supports upside
- +ve DMI dominance with ADX rising in support

Support levels - 0.6760 (5-DMA), 0.6703 (110-EMA), 0.6663 (23.6% Fib)
Resistance levels - 0.6811 (38.2% Fib), 0.6892 (200-DMA), 0.6930 (50% Fib)

Recommendation: Good to go long on breakout above 38.2% Fib, SL: 0.6750, TP: 0.6890/ 0.6930

For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.

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FxWirePro: NZD/USD Trade Idea

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