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FxWirePro: NZD/USD holds gains above 21-EMA, tracks aussie higher

NZD/USD chart - Trading View 

Technical Analysis: Bias turning Bullish

- NZD/USD was trading 0.39% higher on the day at 0.7234 at around 05:30 GMT

- RSI has turned north and is holding above 50 mark, Stochs show bullish momentum

- Price action is consolidating above daily cloud, Chikou span is biased higher

-  The pair has bounced off Symmetric Triangle base and has edged above 200H MA 

- 21-EMA is offering strong support at 0.72 mark, the pair is consolidating above 200-month MA

- Volatility is high and rising as evidenced by widening Bollinger bands

Support levels - 0.7227 (200H MA), 0.72 (21-EMA), 0.7166 (55-EMA)

Resistance levels - 0.7288 (Trendline), 0.73 (psychological mark), 0.7326 (Upper W BB)

Summary: NZD/USD consolidates around daily cloud and 200-month MA. Scope for upside resumption. Failure at 200-month MA negates any bullish bias.
 

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