FxWirePro: NZD/CAD finds major resistance at 20-DMA 0.9602, break above to see further upside

• NZD/CAD bounces off 100-DMA and edges higher to test 20-DMA at 0.9602.
   
• Breakout above could see test of 0.9735 levels.
   
• Technicals indicators are bullishly aligned, RSI and Stochs biased higher.
   
• MACD line is on verge of a bullish crossover on signal line.
   
• Our previous call (http://www.econotimes.com/FxWirePro-NZD-CAD-holds-above-100-DMA-good-to-long-dips-422862) has achieved all targets.
   
• Support levels - 0.9568 (session low), 0.9520 (5-DMA), 0.9497 (10-DMA)
   
• Resistance levels - 0.9602 (20-DMA), 0.9685 (Sept 27 high), 0.9735 (Sept 20 high)
   

Recommendation: Go long on breakout above 20-DMA at 0.9602, SL: 0.9520, TP: 0.9685/ 0.97/ 0.9735
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FxWirePro's Hourly NZD Spot Index was at 68.5336 (Neutral), while Hourly CAD Spot Index was at 14.7907 (Neutral) at 0630 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex