NZD/USD chart - Trading View
NZD/USD tracks Aussie higher to hit new 6-week highs at 0.7268, scope for further gains.
The major was trading 0.53% higher on the day at 0.7262 at around 10:40 GMT, after closing 0.12% higher in the previous session.
Analysis of GMMA indicator shows major and minor trend are bullish on the daily and weekly charts.
The pair has ignored Doji formation at 200 month MA on January month candle and is currently extending gains above 200 month MA.
Volatility is high and rising and momentum indicators are bullish. A decisive close above 200 month MA will propel the pair to new highs.
Next immediate resistance lies at 88.6% Fib at 0.7320 ahead of 0.7558 (2017 high). Immediate support lies at 5-DMA at 0.7229.
Failure to hold above 200 month MA (0.7190) and close below daily cloud will negate any further upside in the pair.
