• NZD/ USD strengthened on Friday as kiwi dollar gained support from positive global service sector surveys that improved risk sentiment.
.
• At (GMT 06:21) kiwi dollar was trading at $0.6153 against the U.S. dollar, having risen 1.5% for the week to reach a high of $0.6178.
• This marks its fourth consecutive week of gains, with the next target set at $0.6230.
• The technical outlook remains bullish and points to eventual bigger gains, Fourteen-day momentum is positive, reinforcing the scope for a bigger gains .
• Immediate resistance is located at 0.6176 (Aug 21st high), any close above will push the pair towards 0.6200 (23.6%fib).
• Support is seen at 0.6132 (38.2%fib) and break below could take the pair towards 0.6083(50%fib).
Recommendation: Good to buy around 0.6140 with stop loss of 0.6070 and target price of 0.6230
