NZD/USD chart on Trading View used for analysis
- NZD/USD pauses upside at 200-DMA, break above to see further upside.
- Momentum studies are bullish. Stochs and RSI are biased higher.
- MACD is showing a bullish crossover on signal line which adds to the bullish bias.
- Break above 200-DMA will see test of 50% Fib at 0.6930 ahead of 0.6969 (Dec 4th high).
- On the flipside, rejection at 200-DMA will see dip till 5-DMA at 0.6755. Further weakness on brean below.
Support levels - 0.6755 (5-DMA), 0.67, 0.6663 (23.6% Fib)
Resistance levels - 0.6802 (200-DMA), 0.6930 (50% Fib)
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
