NZD/USD chart - Trading View
NZD/USD was trading 0.97% higher on the day at 0.7180 at around 08:45 GMT, outlook bullish.
The major is extending weekly gains after price action was buoyed upon formation of Dragonfly Doji formation on the previous week's candle.
Broad-based U.S. dollar weakness is pushing the pair higher, scope for test of 88.6% Fib at 0.7320.
Technical indicators support gains. Momentum is strongly bullish and volatility is rising.
Focus on US economic data – Goods Trade Balance, Chicago PMI and Pending Home Sales for further impetus.
5-DMA is immediate support at 0.7126. Next major support lies at 21-EMA at 0.7073. Breach below will negate bullish bias.
