FxWirePro: NZD/USD Trade Idea

FxWirePro Currency Strength Index for NZD/USD: Bias Bullish

FxWirePro's Hourly NZD Spot Index was at 157.531 (Bullish)

FxWirePro's Hourly USD Spot Index was at -93.7275 (Bearish)

Technical Analysis: Bias Bullish

- Price action has broken above 50-DMA

- The major has broken above 0.73 handle

- RSI above 50, biased higher

- Stochs show bullish momentum

- +ve DMI dominance seen which adds to bullish bias

Support levels - 0.7281 (5-DMA), 0.7262 (21-EMA), 0.7248 (55-EMA)

Resistance levels - 0.7328 (61.8% Fib retrace of 0.7437 to 0.71532 fall), 0.7354 (Mar 13,14 high), 0.7376 (78.6% Fib)

Recommendation: Good to go long on dips around 0.7280, SL: 0.7215, TP: 0.7325/ 0.7355/ 0.7375

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