FxWirePro: NZD/USD test major trendline resistance at 0.6930, bullish continuation on break above

NZD/USD chart on Trading View used for analysis

• NZD/USD is trading in a narrow range with session highs at 0.6923 and lows at 0.6898.
   
• The pair is consolidating below major trendline resistance at 0.6930 and breakout above will see bullish continuation.
   
• Technical studies are bullish and we do not see major reversal signs on the charts.
   
• Breakout at 0.6930 (trendline resistance) will see test of 61.8% Fib at 0.7050.
   
• On the flipside, 5-DMA is immediate support at 0.6876. Break below 200-DMA will see bullish invalidation.
   
• Focus remains on U.S. NFP data for further impetus. A big beat on expectations could put a bid under the USD. 

Call update: Our previous call (https://www.econotimes.com/FxWirePro-NZD-USD-extends-gains-above-069-handle-bullish-continuation-likely-above-06930-1491846) has hit TP1.

Recommendation: Book partial profits at highs. Watch out for break above 0.6930 for further bullishness.

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