NZD/USD chart - Trading View
NZD/USD was trading 0.50% higher on the day after closing 0.67% higher in the previous session.
The pair is extending bounce off 50-DMA and technical indicators show scope for upside resumption.
Stochastics have rolled over from oversold levels and RSI has retraced above 50 and is biased higher.
Analysis of GMMA indicator shows major trend is bullish and retrace above 20-DMA has turned near-term bias to bullish.
FOMC July meeting’s minutes due later today will be closely watched for clues about anticipated shift in the policy outlook.
Upside bias intact as long as pair holds above 50-DMA. Resumption of upside will see test of 61.8% Fib at 0.6760 ahead of 200W MA at 0.6791.
