- NZD/USD is extending upside for the 3rd consecutive session.
- Techs favour upside, momentum studies are bullish, we see scope for further gains.
- Pair has bounced off lower Bollinger Band (July 21) and has held major trendline support at 0.6956 (July 25).
- 50-DMA resistance has been breached (July 27), pair now finds next major hurdle at 20-DMA by 0.7137.
- We see weakness only below 0.7029 (50-DMA), violation there could take the pair to trendline at 0.6950.
- On the upside break above 20-DMA at 0.7137 opens upside upto 0.73 levels.
Recommendation: Good to go long on dips around 0.71 levels, SL: 0.7030, TP: 0.7135/ 0.7155/ 0.72
