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FxWirePro: NZD/USD finds strong support at 0.7080, good to long on dips

NZD/USD edges higher from session lows at 0.7077, intraday bias higher. The pair finds major support at 0.7080 levels, weakness only on break below. Technicals suggest upside in the pair, RSI is biased north and Stochs a…

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FxWirePro: NZD/USD finds strong support at 0.7080, good to long on dips
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  • NZD/USD edges higher from session lows at 0.7077, intraday bias higher.
     
  • The pair finds major support at 0.7080 levels, weakness only on break below.
     
  • Technicals suggest upside in the pair, RSI is biased north and Stochs are on the verge of a rollover from oversold levels.
     
  • Major support levels - 0.7080 (5-DMA, 50% Fib), 0.7035 (trendline), 0.6985 (61.8% Fib)
     
  • Major resistance levels - 0.7124 (10-DMA), 0.7175 (38.2% Fib), 0.7205 (20-DMA)
    ​

Recommendation: Good to go long on dips around 0.7090/0.71, SL: 0.7070, TP: 0.7125/ 0.7175/ 0.72
 

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