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FxWirePro: NZD/USD upside halts shy of 20-DMA resistance, upside only on break above

  • NZD/USD is extending upside after brief pause on Thursday. 
     
  • Techs favour upside, momentum studies are bullish, we see scope for further gains.
     
  • But upside on the day halts shy of stiff 20-DMA resistance at 0.7133.
     
  • The pair has retreated from highs of 0.7129 to slip below 0.71, currently trades around 0.7099.
     
  • We see weakness only below 0.7029 (50-DMA), violation there could take the pair to trendline at 0.6950.
     
  • On the upside break above 20-DMA at 0.7137 opens upside upto 0.73 levels.
     
  • Market Data
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