FxWirePro: NZD/CAD bounces off 200-DMA at 0.9370, bias higher, stay long

• NZD/CAD has held major support by 200-DMA at 0.9370 and bounced higher to currently trade at 0.9446.
   
• The pair has broken above 5-DMA. Technical studies on daily charts have turned bullish. 
   
• We see some upside on intraday charts. Weakness only on break below 200-DMA currently at 0.9374.
   
• RSI is biased higher, Stochs have rolled over from oversold and MACD is on verge of a bullish crossover on signal line.
   
• Scope for test of 100-DMA at 0.9466. Violation there could see test of falling trendline at 0.9590.
   
• 200-DMA at 0.9374 is major support on the downside, while major resistance lies at 0.9466 (100-DMA).
   

Recommendation: Good to go long on dips around 0.9430, SL: 0.9370, TP: 0.9460/ 0.9480/ 0.9560
​

FxWirePro Currency Strength Index: FxWirePro's Hourly NZD Spot Index was at 53.6152(Bullish), while Hourly CAD Spot Index was at -101.736 (Highly bearish) at 1015 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.