- NZD/USD edges lower from session highs at 0.7235, intraday bias higher.
- The pair has broken major trendline resistance at 0.7185 and has taken out 20-DMA at 0.7194.
- Technical indicators are bullish, RSI and Stochs are biased higher, while we see a bullish MACD line crossover on signal line.
- We see scope for test of 50-DMA at 0.7251, bearish invalidation below trendline resistance turned support currently at 0.7175.
- Our previous call (http://www.econotimes.com/FxWirePro-NZD-USD-finds-strong-support-at-07080-good-to-long-on-dips-350391) has achieved all targets.
Recommendation: Book partial profits, raise trailing stops to 0.7175, hold for 0.7250
