NZD/USD chart - Trading View
NZD/USD has seen a sudden 0.38% rise on the hourly candle. The pair has edged higher from hourly lows at 0.6065 to trade at 0.6088 at around 06:45 GMT.
Price action has held above 5-DMA on the daily candle and GMMA shows upside in the near-term.
The pair had paused 4 straight session's of upside with 'Doji' formation on Friday's trade.
Stochs and RSI show bullish momentum, but 'Death Cross' (bearish 50-DMA crossover on 200-DMA) and overbought oscillators dent upside.
Price action currently capped at 0.61 handle, decisive break above eyes next hurdle at 55-EMA at 0.6150.
New Zealand economic calendar remains light this week. Focus on China Trade balance and GDP data for further impetus.
From the U.S., Retail Sales, Industrial Production and Jobless claims data will be in focus for direction.
Support levels - 0.6047 (5-DMA), 0.6008 (21-EMA), 0.5960 (38.2% Fib)
Resistance levels - 0.61, 0.6150 (55-EMA), 0.6162 (50-DMA)
Guidance: Good to go long on breakout at 0.61 handle, SL: 0.6040, TP: 0.6150/ 0.62/ 0.6260


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