NZD/USD has breached 200 DMA at 0.6850, traded tight 0.6843/65 range thus far in Asia Uptrend in the pair is on track, trades within the ascending channel from middle of November lows Topside bias underpinned by demand f…
NZD/USD has breached 200 DMA at 0.6850, traded tight 0.6843/65 range thus far in Asia
Uptrend in the pair is on track, trades within the ascending channel from middle of November lows
Topside bias underpinned by demand for NZ financial assets, broad USD weakness also rounding out positive NZD backdrop
Techs bullish, test of 0.6900 levels (Oct 15/16 tops) are likely, RSIs remain biased up, price action is above the cloud and 5&10 DMAs
0.6850 200-DMA resistance now flips to support, then 0.6834 5-DMA is the next support. Little chart resistance till 0.6887 (Oct 16 high) and 0.6897 (Oct 15 high)
Recommendation: Good to buy dips around 0.6850, SL: 0.6820, TP: 0.69
