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- NZD/USD declined from 38.2% Fib at 0.7167 to close lower on Wednesday's trade.
- The pair still maintains a bullish bias, finds major channel base support at 0.6965.
- Technical indicators are bias higher, RSI and Stochs point north.
- We see weakness only on break below channel base currently at 0.6965.
- Support levels - 0.7083 (5-DMA), 0.70, 0.6965 (channel base)
- Resistance levels - 0.71, 0.7132 (Nov 29 high), 0.7192 (100-DMA), 0.72
Recommendation: Good to go long on dips around 0.7085, SL: 0.7035, TP: 0.7130/ 0.7160/ 0.7190/ 0.72
FxWirePro's Hourly NZD Spot Index was at 73.3714 (Bullish), while Hourly USD Spot Index was at -115.381(Highly bearish) at 0530 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
