- NZD/USD hits 4-week high of 0.7310 before edging lower to close at 0.7289 levels on Wednesday.
- Broad-based USD selling stalled after hawkish Fed statement.
- The pair is showing muted reaction today to upbeat China Caixin services PMI data for Oct which marked the fastest rise in the activity since March 2013.
- Caixin China services PMI ticked higher to 52.4 in October from the September figure of 52.0.
- Kiwi failed to strengthen, NZD/USD hovers around 0.73 handle, bias still higher.
- Upside finds immediate resistance at 61.8% Fib at 0.7313, break above could see further gains.
- Our previous call (http://www.econotimes.com/FxWirePro-NZD-USD-breaks-100-DMA-to-hit-2-week-high-good-to-go-long-on-dips-378928) has achieved all targets.
Recommendation: Book partial profits, raise trailing stops to 0.7260, target 0.7390.
