NZD/USD chart - Trading View
NZD/USD was trading 0.23% higher on the day at 0.7128 at around 06:00 GMT after closing 0.27% higher in the previous session.
Risk assets buoyed after reports that President Trump signed the much awaited coronavirus relief bill. Trump signed a $2.3 trillion package, combining Covid-19 relief with government funding.
The pair trades with a bullish bias and is on track to test 88.6% Fib at 0.7320. NZD/USD is extending gains after previous week's Dragonfly Doji, consolidates above 76.8% Fib.
Price action has formed a 'Dragonfly Doji' formation on the previous weeks candle, suggests buying pressure at lows.
Pullbacks have bounced off 21-EMA support and resumption of upside will see test of 88.6% Fib at 0.7320.
5-DMA is immediate support at 0.7093. Break below will see next major support at 21-EMA at 0.7057.
