- Technically, the dollar could be a little stretched and in overbought territory.
- On the other side, the NZ economy is strong and dairy prices have risen, which could mean short-term support for NZD.
- NZD/USD remains capped below 5-DMA currently at 0.6891, break above could see some upside.
- Trend is definitely lower, break below trendline support at 0.6855 could see drag till 0.68 levels.
- Support levels - 0.6862 (Dec 23 low), 0.6855 (trendline support), 0.68 (June 3 low), 0.6770 (Apr 8 low)
- Resistance levels - 0.6891 (5-DMA), 0.6916 (50% Fib of 0.63470 to 0.74854 rally), 0.6947 (Dec 12 high), 0.70, 0.7042 (20-DMA)
Recommendation: We prefer to wait for confirmation on technicals.
FxWirePro's Hourly NZD Spot Index was at 24.6972 (Neutral) at 0500 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.


FxWirePro- Major European Indices
FxWirePro: GBP/NZD attracts buying interest, 38.2% fib eyed
FxWirePro: GBP/AUD moves lower on weak UK data
FxWirePro: EUR/NZD uptrend loses steam, remains on bullish path
FxWirePro- Major US Indices
FxWirePro: USD/ZAR extends losses ,eyes 16.400 level
FxWirePro- Major Pair levels and bias summary
FxWirePro: USD/JPY retreats as Japan signals possible FX intervention
FxWirePro- Major Crypto levels and bias summary
FxWirePro:EUR/AUD eases but bullish outlook persists
FxWirePro- Woodies Pivot(Major)
FxWirePro- Major European Indices
AUDJPY Bulls Stay in Control: Buy the Dips Above 103.80 Targeting 106
FxWirePro- Major Pair levels and bias summary
FxWirePro: AUD/USD edges higher ahead of RBA meeting minutes 



