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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