Strong trendline resistance for NZD/USD is seen at 0.6773, pair has been rejected at highs by 0.6782 in Thursday's trade.
- NZD/USD hits session lows at 0.6735 on weakness in oil prices and downbeat NZ consumer confidence data.
- Daily Stochs are at overbought levels and RSI is also biased lower, scope for some consolidation into FOMC next week.
- Strong resistance is seen at 0.6773 (Trendline), while support on the downside is located at 0.6703 (23.6% Fib of 0.6429 to 0.6787 rise).
Recommendation: We find it good to sell rallies around 0.6770, SL: 0.6865, TP1: 0.6700, TP2: 0.6680, TP3: 0.6602
Resistance Levels:
R1: 0.6773 (Trendline)
R2: 0.6782 (Dec 10 high)
R3: 0.6787 (Dec 4 high)
Support Levels:
S1: 0.6703 (23.6% Fib of 0.6429 to 0.6787 rise)
S2: 0.6680 (Daily Tenkan)
S3: 0.6608( Kijun)
S4: 0.6602 (21 DMA)
