- Technically, the dollar could be a little stretched and in overbought territory.
- On the other side, the NZ economy is strong and dairy prices have risen, which could mean short-term support for NZD.
- NZD/USD remains capped below 5-DMA currently at 0.6891, break above could see some upside.
- Trend is definitely lower, break below trendline support at 0.6855 could see drag till 0.68 levels.
- Support levels - 0.6862 (Dec 23 low), 0.6855 (trendline support), 0.68 (June 3 low), 0.6770 (Apr 8 low)
- Resistance levels - 0.6891 (5-DMA), 0.6916 (50% Fib of 0.63470 to 0.74854 rally), 0.6947 (Dec 12 high), 0.70, 0.7042 (20-DMA)
Recommendation: We prefer to wait for confirmation on technicals.
FxWirePro's Hourly NZD Spot Index was at 24.6972 (Neutral) at 0500 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.


FxWirePro- Major Pair levels and bias summary
AUD/JPY Stalls Ahead of BOJ Decision: Sell on Rallies as Bearish Bias Holds Below 103.70
FxWirePro: GBP/AUD runs out of steam but maintains bullish outlook
NZDJPY: Sell the Rallies as Bears Guard 90–91 Resistance Zone
FxWirePro: USD/CAD recovers slightly but trend is still bearish
FxWirePro: USD/CAD downtrend slows, but bearish sentiment remains
FxWirePro: EUR/NZD steadies ahead of ECB meeting
FxWirePro: GBP/USD recovers slightly from early decline ahead of Bank of England’s interest rate decision
FxWirePro- Major Crypto levels and bias summary
FxWirePro- Major Pair levels and bias summary
FxWirePro: GBP/AUD dive post-CPI short-lived as traders prepare for BoE decision
FxWirePro: NZD/USD dips as stronger U.S. dollar offsets NZ Q3 GDP surprise
FxWirePro: EUR/AUD trends higher, but faces potential pitfalls
FxWirePro: USD/JPY catches bid ahead of BoJ meeting
GBP/JPY Surges Post-BoE Cut: Bullish Momentum Eyes 210 as Support Holds at 207.80
FxWirePro: EUR/NZD uptrend loses steam but outlook still bullish
FxWirePro- Major Crypto levels and bias summary 



