NZD/USD is trading above the cloud with Tenkan and Kijun positively aligned.
- The pair is trading in a rising channel since Nov, and has strong support by channel base at 0.6670, which is also the cloud top.
- Watchout for breaks below 0.6670 for further weakness, tests of 0.6610-20 levels then likely.
- Strong support is at 0.6670 (channel base and cloud top), while resistance on the upside is located at 0.6717 (10 DMA) ahead of 0.6740 (Dec 7 high).
Resistance Levels:
R1: 0.6725 (10-DMA)
R2: 0.6740 (Dec 7 high)
R3: 0.6758 (Dec 9 highs)
Support Levels:
S1: 0.6688 (Dec 17 low)
S2: 0.6670 (channel base and cloud top)
S3: 0.6656 (21-Day MA)
