FxWirePro: NZD/USD closes bearish gap but struggles at 20-DMA, intraday bias higher

• NZD/USD holds major trendline support at 0.7250, intraday bias higher.
   
• Commodity outperformance could extend into this week, keeping the NZD supported.
   
• Also markets have priced in OCR on hold at 2.0% at Thursday’s RBNZ meet, with a signal of a rate cut in November. 
   
• Any watering down of this explicit easing signal could likely cause a sharp rise in the NZD.
   
• 21 Sep FOMC announcement is another key risk event. Rates mostly on hold, but the statement should have a slight hawkish twist.
   
• Techs as of now do not have a clear directional bias, but some upside seen on intraday charts.
   
• The major finds stiff resistance at 0.7315 (trendline) on hourly charts, break above could target 0.7330 and then 0.7365 levels.
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Recommendation: Good to go long on break above 0.7315, SL: 0.7250, TP: 0.7365/ 0.7380/ 0.74