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Add as a preferred source on Google FxWirePro: NZD/USD intraday bias higher, good to go long on dips NZD/USD intraday bias higher, finds stiff resistance at 0.7310 (falling trendline). Momentum studies are bullish, Stochs and RSI on 4 hourly charts are biased higher. Broad-based dollar weakness after less than hawkish F…
By FxWirePro Team Aug 18, 2016, 5:50 AM UTC
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NZD/USD intraday bias higher, finds stiff resistance at 0.7310 (falling trendline).
Momentum studies are bullish, Stochs and RSI on 4 hourly charts are biased higher.
Broad-based dollar weakness after less than hawkish FOMC minutes and optimistic comments from the NZ dairy giant Fonterra to support NZD/USD.
Major support is seen around 0.72 levels, we see weakness only on break below.
Broader market sentiment and oil price action along with US macro releases due later in the NA session will influence price action.
Recommendation: Good to go long on dips around 0.7280, SL: 0.7240, TP: 0.7310/ 0.7340
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