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Chart - Courtesy Trading View
Technical Outlook:
- NZD/USD was trading 0.13% higher on the day at 0.6303 at around 16:00 GMT
- The pair is grinding higher into daily cloud, hits fresh 7-week high above 0.63 handle
- Momentum is bullish, Stochs and RSI are sharply higher, volatility is high and rising
- GMMA indicator shows minor trend is bullish, major trend is turning bullish
- MACD supports upside in the pair, Chikou span is biased higher
Support levels:
S1: 0.6267 (5-DMA)
S2: 0.6249 (55-EMA)
Resistance levels:
R1: 0.6323 (Upper BB)
R2: 0.6464 (110-week EMA)
Summary: NZD/USD was trading with a bullish bias. The pair is poised for further upside. Break above cloud will propel the pair higher.
