FxWirePro: NZD/USD extends gains above 5-DMA, weakness only on break below 200-DMA

NZD/USD chart - Trading View 

• NZD/USD extends gains after bouncing off 200-DMA support.
   
• The pair is trading 0.26% higher on the day at 0.6758 at 1025 GMT.
   
• Price is holding above 5-DMA and is hovering around 38.2% Fib.
   
• RSI has turned and Stochs are at oversold levels with scope for minor pullbacks.
   
• Upside finds strong resistance at 1H 200-SMA at 0.6769. Break above will likely see gains upto 110-EMA at 0.6793.
   
• On the flipside, weakness to resume on decisive break below 200-DMA.
   
• Focus now on US inflation data and FOMC minutes for further impetus.

Support levels - 0.6744 (5-DMA), 0.6733 (200-DMA), 0.67

Resistance levels - 0.6769 (1H 200-SMA), 0.6793 (110-EMA), 0.68

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.