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Add as a preferred source on Google FxWirePro: NZD/USD breaks above 12-DMA, good to go long on dips NZD/USD extends grind higher, breaks above 21-DMA resistance on Friday's trade. Friday’s disappointing US GDP data will probably give an already reluctant Fed another reason to proceed cautiously with its intended tighte…
By FxWire Pro Aug 1, 2016, 5:36 AM UTC
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NZD/USD extends grind higher, breaks above 21-DMA resistance on Friday's trade.
Friday’s disappointing US GDP data will probably give an already reluctant Fed another reason to proceed cautiously with its intended tightening cycle.
Our previous call (http://www.econotimes.com/FxWirePro-Momentum-studies-on-NZD-USD-bullish-good-to-go-long-on-dips-241497 ) has achieved all targets.
Momentum still bullish. We see scope for 0.73 levels. Weakness only below 0.7136.
Resistance on the upside is seen at 0.7229 (July 29 and session high till now), 0.7240 (July 4 high) and then 0.73.
Recommendation: Good to go long on dips around 0.7210/20, SL: 0.7150, TP: 0.7240/ 0.73
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