The antipodeans struggling for momentum on Monday as traders reluctant to make any significant bets in a holiday-heavy week
- NZD/USD is marginally firmer in lacklustre Asia, holds channel support in Friday's trade and edges higher to currently trade at 0.6745
- Technicals on the 4-hourly charts show some encouraging signs, price action is above the cloud and MACD line has crossed over the signal line from below
- 0.6752 Friday's high is immediate resistance on the upside, while supports lie at 0.6736 (4h 21 DMA) and then 0.6720 (session lows 21 Dec)
Recommendation: Good to buy dips around 0.6725/30, SL: 0.6680, TP1: 0.6780, TP2: 0.6800
Resistance Levels:
R1: 0.6752 (Dec 18 high)
R2: 0.6758 (Dec 9 high)
R3: 0.6781 (Dec 11 high)
Support Levels:
S1: 0.6729 (10-DMA)
S2: 0.6681 (Dec 18 low, Trendline support)
S3: 0.6668 (Daily Cloud Top)
