A stable USD/CNY fix by PBoC earlier today spurred a relief rally in Asian equities, which saw the Aussie and Kiwi well bet.
- 0.6590 is strong trendline support, NZD/USD held support at 0.6590 and has edged higher on the day, range till now 0.6615/78.
- A Doji forms on Thursday's candle suggesting a bounce might be due, Stochs are at ovresold levels and show a bullish crossover, rollover from o/s should see further gains.
- Immediate resistance for the pair is seen at 0.6667 (Daily high Jan 7), while support on the downside lies at 0.66 levels.
Recommendation: Good to buy dips around 0.6620, SL: 0.6590, 0.6750
Resistance Levels:
R1: 0.6667 (Daily high Jan 7)
R2: 0.6675 (55-Day MA)
R3: 0.6709 (Session high Jan 6)
Support Levels:
S1: 0.6600 (Rising trendline & Daily Cloud Top)
S2: 0.6590 (Daily low Jan 7)
S3: 0.6585 (100 DMA)
