NZD/USD chart - Trading View
- NZD/USD edges higher from 3-week lows at 0.6738 hit on Tuesday's trade.
- Kiwi buoyed on upbeat GDT Price Index, strong China services PMI data and US-China trade optimism.
- The pair is trading 0.34% higher at 0.6779 at 0540 GMT. Upside remains capped at 5-DMA at 0.6784.
- The pair consolidates at daily cloud base. Finds strong support at 200-DMA at 0.6734.
- Break below 200-DMA will confirm further weakness. Scope then for dip till 61.8% Fib at 0.6632.
- On the flipside, 110-EMA is strong resistance at 0.6798. Break above to see further upside.
Support levels - 0.6734 (200-DMA), 0.6696 (50% Fib), 0.6632 (61.8% Fib)
Resistance levels - 0.6785 (5-DMA), 0.6798 (110-EMA), 0.6827 (cloud top)
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
