FxWirePro: NZD/USD holds break above 200-DMA, bias higher, stay long

• NZD/USD is extending gains after break above 200-DMA on Monday's trade.
   
• Technical indicators have turned bullish, we see scope for test of 20-DMA at 0.7146.
   
• Upside in the pair is struggling at 23.6% Fib, break above will see test of 0.7167 (38.2% Fib).
   
• Weakness to resume only on break below 200-DMA at 0.7038.
   
• Support levels - 0.7040 (5-DMA), 0.70/ 0.6971 (Nov 24 low), 0.6965 (channel base)
   
• Resistance levels - 0.7092 (23.6% Fib), 0.71, 0.7146 (20-DMA), 0.7167 (38.2% Fib)
   
• Our previous call (http://www.econotimes.com/FxWirePro-NZD-USD-bounces-off-channel-base-support-good-to-go-long-on-dips-420734) has hit TP1.
   

Recommendation: Hold for targets.
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FxWirePro's Hourly NZD Spot Index was at 109.538 (Highly bullish), while Hourly USD Spot Index was at -69.1065 (Slightly bearish) at 0730 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.