NZD/USD chart - Trading View
NZD/USD was trading 0.18% higher on the day at 0.7225 at around 07:10 GMT, after closing 0.72% higher in the previous session.
The pair's pullback from multi-year highs at 0.7315 has found strong support at 21-EMA and we see weakness only on break below.
Analysis of GMMA indicator shows major and minor trend are bullish. Volatility is high and Stochs and RSI support bullish momentum.
The pair has formed a 'Dragonfly Doji' pattern on the weekly candle till date, scope for upside resumption.
Immediate hurdle lies at 88.6% Fib at 0.7320. Further bullish momentum will see next hurdle at 0.7435 (major trendline).
Price action is currently consolidating around 200H MA. Break below 21-EMA could see more near-term weakness.
