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FxWirePro: NZD/USD breaks trendline resistance, on track to test 0.61 mark

NZD/USD chart - Trading View 

NZD/USD was trading 0.91% higher on the day at 0.6068 at around 06:25 GMT, bias has turned bullish.

The pair is extending upside for the 3rd straight session, momentum with the bulls.

Price action has broken above trendline resistance at 0.6030 and is hovering around cloud top.

RSI has edged above 50 and is biased higher, volatility is rising and MACD supports upside.

Decisive breakout above cloud will buoy bulls and fuel further gains in the pair. 

Resistances on the upside align at 50-DMA (0.6077), 55-EMA (0.6108) and 110-EMA (0.6234).

On the flipside, 21-EMA is strong support at 0.6010. Retrace below will negate bullish bias.

Support levels - 0.6030 (Trendline), 0.6010 (21-EMA), 0.5960 (38.2% Fib)

Resistance levels - 0.6077 (50-DMA), 0.6108 (55-EMA), 0.6234 (110-EMA)

Guidance: Good to go long on dips around 0.6040/50, SL: 0.60, TP: 0.6075/ 0.61/ 0.6120
 

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