NZD/USD chart - Trading View
NZD/USD was trading 0.25% higher on the day at 0.6692 at around 05:30 GMT. The major is set to resume upside after a brief consolidation above the daily cloud.
Technical studies support gains. Price action has bounced off 110-EMA support. GMMA shows bullish near-term trend. Oscillators are biased higher.
On the data front, China's Industrial Profits (YTD) YoY for September fell by 2.4%, an improvement over August's -4.4% drop. US Durable Goods data will be in focus, with orders expected to rise by 0.50%.
Resumption of upside will see test of 61.8% Fib retracement at 0.6760 ahead of 200W SMA at 0.6771 and then Mar 2019 high at 0.6938.
On the flipside, failure to hold above cloud will see dip till 110-EMA at 0.6552. Break below 110-EMA eyes 200-DMA support at 0.6388.
