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Chart - Courtesy Trading View
Technical Analysis: Bias Bullish
- NZD/USD was trading 0.38% higher on the day at 0.6720 at around 05:50 GMT
- The pair is extending upside for the 5th straight session, outlook remains bullish
- 5-DMA is sharply higher and bullish 5-DMA crossover on 20-DMA adds upside support
- Momentum is bullish and volatility is high and rising
- GMMA indicator shows major and minor trend are strongly bullish
Support levels - 0.6682 (5-DMA), 0.6675 (21-EMA), 0.6642 (20-DMA)
Resistance levels - 0.6740 (55-EMA), 0.6803 (Daily cloud), 0.6825 (110-EMA)
Summary: NZD/USD poised for further upside. Immediate bull target lies at 55-EMA at 0.6740.
