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- NZD/USD extends grind higher, breaks above 21-DMA resistance on Friday's trade.
- Friday’s disappointing US GDP data will probably give an already reluctant Fed another reason to proceed cautiously with its intended tightening cycle.
- Our previous call (http://www.econotimes.com/FxWirePro-Momentum-studies-on-NZD-USD-bullish-good-to-go-long-on-dips-241497) has achieved all targets.
- Momentum still bullish. We see scope for 0.73 levels. Weakness only below 0.7136.
- Resistance on the upside is seen at 0.7229 (July 29 and session high till now), 0.7240 (July 4 high) and then 0.73.
Recommendation: Good to go long on dips around 0.7210/20, SL: 0.7150, TP: 0.7240/ 0.73
