FxWirePro: NZD/USD finds strong support at 21-EMA, breakout at 50-DMA to see further upside

Refer NZD/USD chart on Trading View

• NZD/USD is holding break above 21-EMA, intraday bias is higher.
   
• The pair is trading 0.34% higher on the day at 0.6714 at the time of writing.
   
• Momentum studies are bullish, Stochs and RSI are sharply higher and MACD is rising in support.
   
• We see strong resistance at 50-DMA at 0.6749, break above will see further upside. Scope then for test of 38.2% Fib at 0.6869. 
   
• On the flipside, failure to hold break above 21-EMA at 0.6685 can see weakness till 0.6544 (Aug 15 low).

Support levels - 0.6685 (nearly converged 21-EMA & 5-DMA), 0.6619 (Aug 24 low),0.66

Resistance levels - 0.6745 (nearly converged 50-DMA and 23.6% Fib), 0.68, 0.6869 (38.2% Fib)

FxWirePro Currency Strength Index: FxWirePro's Hourly NZD Spot Index was at -16.8142 (Neutral), while Hourly USD Spot Index was at -138.845 (Bearish) at 1445 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.