NZD/USD chart - Trading View
NZD/USD was trading 0.34% higher on the day at 0.7116 at around 10:20 GMT, outlook bullish.
The pair is extending previous session's gains and is holding above 5-DMA, scope for further upside.
Price action has erased losses and has edged higher from weekly lows at 0.7002.
Analysis of GMMA indicator shows major trend is bullish and minor trend is turning bullish.
Volatility is high as evidenced by widening Bollinger bands. The pair is now hovering around 78.6% Fib.
Momentum is bullish. Resumption of upside will see test of 88.6% Fib at 0.7320. Bullish invalidation only below 200W MA.
