FxWirePro: NZD/USD bounces off 200-DMA support, decisive break above 0.68 to see further upside

NZD/USD chart - Trading View 

• NZD/USD is trading around 0.68 handle at 0545 GMT, up 0.02% at the time of writing.
   
• The pair has bounced off strong support at 200-DMA and we see weakness only on break below.
   
• Price action is holding above 5-DMA and technical studies are turning slightly bullish.
   
• The pair finds stiff resistance at 0.68 to 0.6811 zone and decisive break above will see further upside.
   
• Next major hurdle above lies at 0.6843 (61.8% Fib), ahead of trendline resistance at 0.6925.
   
• Rejection at 21-EMA and break below 200-DMA will see test of 0.67 mark (trendline support).

Support levels - 0.6785 (5-DMA), 0.6745 (200-DMA)

Resistance levels - 0.6811 (21-EMA), 0.6843 (61.8% Fib)

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