- NZD/USD trades with a decent positive momentum, bias higher as long as support at 0.7290 holds.
- The pair is currently down 0.25% on the day on renewed risk-on after FBI clears Clinton emails.
- We see weakness only on break below 0.7290, drag upto 50-DMA at 0.7238 then likely.
- On the flipside if the pair manages to hold support at 0.7290 gains upto 0.7370 and then 0.74 likely.
- Major support levels - 0.7287 (5-DMA), 0.7273 (23.6% Fib of 0.70345 to 0.73471 rally), 0.7238 (50-DMA)
- Major resistance levels - 0.7370 (Sept 22 high), 0.74, 0.7485 (Sept 7 high)
Recommendation: Good to go long on dips around 0.7290/0.73, SL: 0.7240, TP: 0.7345/ 0.7370/ 0.74