FxWirePro: NZD/USD holds 55-EMA support, break above 5-DMA could see further upside

NZD/USD chart on Trading View used for analysis

• NZD/USD opened with a bullish gap in the Asian session, but upside struggling to gather traction.
   
• Positive Sino-U.S. trade headlines and Trump's jawbonning the US dollar supported the pair higher.
   
• NZD/USD  is currently hovering around 0.68 handle at 0640 GMT, bias neutral.
   
• The pair finds strong support at 55-EMA and upside remains capped at 5-DMA which is sharply lower.
   
• Break below 55-EMA targets trendline support at 0.6785 ahead of 200-DMA at 0.6749.
   
• Technical studies do not provide a clear directional bias, focus on NFP for impetus.

Support levels - 0.6802 (55-EMA), 0.6785 (trendline), 0.6749 (200-DMA)

Resistance levels - 0.6819 (20-DMA), 0.6828 (5-DMA), 0.6890 (trendline)

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.