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NZD/USD trading higher, waiting for Global dairy trade (GDT) auction for further up move

  •  RES 4: 0.7615 (Feb 26th high)

  •  RES 3:  0.7550 (Ichimoku cloud bottom)

  •  RES 2: 0.7515 (55 day EMA)

  •   RES 1: 0.7450 (61.8% retracement of 0.76125 and 0.7183)

      PRICE: 0.7374 @ 5:37 GMT 

  • SUP 1: 0.7380

  • SUP 2: 0.7340

  •  SUP 3:0.7310

  •  SUP 4: 0.72870

NZD/USD has recovered after making a low of 0.7314 and overall trend is still weak as long as resistance 0.7450 holds.

The pair is struggling to break 0.7450 and any break above could pave way for next target around 0.7510/0.7550.

The minor support is around 0.7310 and below would take the pair to 0.7175 (Mar 11th low).

 

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