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FxWirePro: NZD/USD Daily Outlook

Chart - Courtesy Trading View 

Technical Analysis:

- NZD/USD was trading 0.77% higher on the day at 0.6270 at around 05:10 GMT

- The pair is extending previous session's gains and has shown a decisive break above 21-EMA

- Stochs and RSI are sharply higher, RSI is well above the 50 mark, momentum is with the bulls

- Price action is above 200H MA and GMMA indicator shows major and minor trend are bullish on the intraday charts

- 5-DMA has turned and Chikou span is biased higher. MACD confirms bullish crossover on signal line

Major Support Levels: 

S1: 0.6213 (21-EMA)

S2: 0.6183 (5-DMA)

Major Resistance Levels: 

R1: 0.6315 (Upper BB)

R2: 0.6331 (55-EMA)

Summary: NZD/USD trades with a bullish bias. Scope for test of 55-EMA at 0.6331. 
 

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