FxWirePro: NZD/USD interim uptrend halts on streaks of bearish patterns – Trading & hedging setup ahead of RBNZ
FxWirePro: EUR/JPY slips lower for the second straight session, 'Spinning Top' at 200W MA dents upside
FxWirePro: NZD/USD holds above 0.65 handle, 'Golden Cross' to aid further gains
NZD/USD chart - Trading View
NZD/USD was trading 0.46% higher on the day at 0.6560 at around 06:45 GMT.
Upbeat earnings report and hopes of virus vaccine keep sentiment upbeat, supporting the antipodeans.
The pair has halted pullback at 0.65 handle and above strong support at 21-EMA at 0.6496.
Technical studies support resumption of upside in the pair. Scope for test of 88.6% Fib at 0.6608.
'Hammer' and 'Golden Cross' patterns on the daily chart support gains in the pair. Price action is above cloud and major moving averages.
On the weekly charts, the pair has broken above 55W EMA and volatility is rising as evidenced by widening Bollinger bands.
Major Support - 0.6538 (110W EMA)
Major Resistance - 0.6608 (88.6% Fib)