FxWirePro: NZD/CAD breaks major trendline resistance at 0.90, bias higher, stay long

• NZD/CAD has broken major trendline resistance at 0.90, bias higher.
  
• The pair has edged higher to break 20-DMA resistance at 0.8922.Technical indicators support upside in the pair.
  
• RSI and stochs are biased higher and MACD is showing a bullish crossover on signal line.
  
• Bullish divergence observed in RSI and Stochs adds further support to upside in the pair.
  
• Next major resistance seen at 0.9129 (38.2% Fib retrace of 0.9758 to 0.8740 fall).
  
• On the flipside, 20-DMA at 0.8922 is strong support, we see weakness on break below.

Support levels - 0.8980 (23.6% Fib retrace of 0.9758 to 0.8740 fall), 0.8922 (20-DMA), 0.89, 0.8755 (trendline)

Resistance levels - 0.9113 (Aug 29 high), 0.9129 (38.2% Fib), 0.92

Call update: Our previous call (http://www.econotimes.com/FxWirePro-NZD-CAD-holds-major-trendline-support-breaks-20-DMA-at-08921-bias-higher-906162) is progressing well.

Recommendation: Bias higher, stay long.

FxWirePro Currency Strength Index: FxWirePro's Hourly NZD Spot Index was at 147.343 (Bullish), while Hourly CAD Spot Index was at -104.086 (Bearish) at 0630 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.

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