FxWirePro: NZD/USD hits 3-week highs at 0.7347, bias higher, stay long

• NZD/USD extends upside after breakout at 50-DMA, intraday bias higher.
   
• The pair is trading with a bullish momentum and we see scope for further upside.
   
• The major has broken above 0.73 handle and has hit 3-week highs at 0.7347.
   
• Technical indicators support gains. Price action has broken above 50-DMA.
   
• RSI above 50, biased higher. Stochs show bullish momentum and we see +ve DMI dominance seen which adds to bullish bias.
   
• Next resistance for the pair lies at 0.7354 (Mar 13,14 high). Break above will see test of 0.7391 (78.6% Fib) ahead of 0.7440 (major trendline).
   
• On the flipside, retrace below 50-DMA could see resumption of weakness till 200-DMA at 0.7183.

Support levels - 0.7297 (5-DMA), 0.7281 (50-DMA), 0.7226 (trendline)

Resistance levels - 0.7354 (Mar 13,14 high), 0.7391 (78.6% Fib), 0.7440 (major trendline)

Call update: Our previous call (https://www.econotimes.com/FxWirePro-NZD-USD-Trade-Idea-1241975) has hit TP1.

Recommendation: Bias higher, stay long.

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