- NZD/USD edges lower from session highs at 0.7222.
- The pair finds strong resistance by 100-DMA at 0.7196.
- Breakout finds next strong resistance at 0.7228 (50% Fib and Nov 11 high).
- Technicals support upside in the pair. Scope for test of 61.8% Fib at 0.7289.
- Support levels - 0.7167 (38.2% Fib), 0.7153 (5-DMA), 0.71, 0.7092 (23.6% Fib)
- Resistance levels - 0.7222 (session high), 0.7228 (50% Fib and Nov 11 high), 0.7265 (Oct 20 high)
- Our previous call (http://www.econotimes.com/FxWirePro-NZD-USD-finds-major-support-at-06965-good-to-go-long-on-dips-428285) has hit all targets.
Recommendation: Book full profits, long breakout above 100-DMA, target 0.7290/ 0.73
FxWirePro's Hourly NZD Spot Index was at 83.074 (Slightly bullish), while Hourly USD Spot Index was at -42.6605 (Neutral) at 0630 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
