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FxWirePro: NZD/USD Trade Idea

Wednesday, July 4, 2018 7:36 AM UTC

FxWirePro Currency Strength Index for NZD/USD: Bias Bullish
FxWirePro's Hourly NZD Spot Index was at -32.9275 (Bullish)
FxWirePro's Hourly USD Spot Index was at -32.9275 (Bearish)

Technical Analysis: Bias Bullish
- Has bounced off major trendline support at 0.6685
- Price has broken above 5-DMA at 0.6755
- Stochs are on verge of rollover from oversold levels
- The pair has edged above 1H 110-EMA, eyes 1H 200-SMA at 0.6808
- We see bullish divergence on RSI and Stochs which raises scope for upside

Support levels - 0.6755 (5-DMA), 0.6685 (trendline)
Resistance levels - 0.68, 0.6862 (21-EMA), 0.6864 (23.6% Fib)

Recommendation: Good to go long on close above 5-DMA, SL: 0.6685, TP: 0.68/ 0.6860

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

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FxWirePro: NZD/USD Trade Idea

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