FxWirePro: NZD/USD holds above daily cloud, bias higher, stay long

• NZD/USD is extending gains above daily cloud, is trading 0.14% higher on the day.
   
• Upside seems to find minor resistance at 0.7354 levels, price has retreated from highs and is currently trading at 0.7335 levels.
   
• Technical studies support upside, RSI on dailies is holding above 50 levels and Stochs are biased higher.
   
• We see a bullish crossover of MACD line on signal line which adds to the bullish bias.
   
• Break out at daily could has raised scope for test of 0.7435 (trendline) ahead of 0.7558 (July 27 high).
   
• Immediate support is seen at 5-DMA at 0.7299, break below could see minor weakness.

Call update: Our previous call (https://www.econotimes.com/FxWirePro-NZD-USD-finds-stiff-resistance-at-07255-good-to-go-long-above-07265-1185213) has hit all targets.

Our previous call (https://www.econotimes.com/FxWirePro-NZD-USD-holds-above-5-DMA-at-07286-cloud-break-out-could-see-further-upside-1198241) is progressing well.

Recommendation: Hold for targets.

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