NZD/USD chart - Trading View
NZD/USD grinds higher to test 200W MA at 0.6786. The pair has rallied by over 1,200 pips since March and outlook remains bullish.
The New Zealand dollar buoyed after Reserve Bank of New Zealand's (RBNZ) governor Orr's comments.
Orr said that the central bank is not concerned about the New Zealand dollar's appreciation (the pair hits 14-month high).
Technical bias for the pair is strongly bullish. Price action is above cloud and major moving averages and volatility is rising.
200W MA is major resistance. Overbought oscillators could cause some weakness.
Decisive breakout at 200W MA to propel the pair higher. Next major bullish target lies at 0.6980 (110M EMA) ahead of 78.6% Fib at 0.7111.
Major Support Levels: 0.6760 (61.8% Fib), 0.6729 (5-DMA), 0.6635 (21-EMA)
Major Resistance Levels: 0.6760 (61.8% Fib), 0.6786 (200W MA), 0.6938 (March 2019 high), 0.7111 (78.6% Fib)
