FxWirePro: NZD/USD bounces-off 61.8% Fib support, retakes 200-DMA, further upside likely

• NZD/USD has taken 61.8% Fib support and edged higher, weakness only on break below.
   
• The pair has re-taken 200-DMA and has closed above 5-DMA on Monday's trade.
   
• Upside is struggling to clear past 50% Fib at 0.7080, breakout to see further upside.
   
• Risk-on environment coupled with broad-based USD weakness to aid upside in the pair.
   
• Major support levels - 0.7048 (5-DMA), 0.7028 (200-DMA), 0.6985 (61.8% Fib)
   
• Major resistance levels - 0.7080 (50% Fib), 0.71, 0.7133 (Oct 14 high), 0.7175 (38.2% Fib)
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Recommendation: Good to go long on breakout above 0.7080, SL: 0.7025, TP: 0.7130/ 0.7175

FxWirePro's Hourly NZD Spot Index was at -7.23768 (Neutral), while Hourly USD Spot Index was at 5.37993 (Neutral) at 0600 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex