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FxWirePro: NZD/USD consolidates above 61.8% Fib, bias bullish

NZD/USD chart - Trading View 

NZD/USD is consolidating break above 61.8% Fib, technical bias remains bullish.

The pair is extending gains after breaking major resistances - 200-DMA, cloud and trendline.

Technical indicators support further upside in the pair. Scope for test of 78.6% Fib at 0.6840.

Oscillators have approached overbought conditions, but no signs of reversal seen.

Price action has broken above 55W-EMA and is on track for further upside.

Major moving averages are biased higher and MACD and ADX support gains.

Support levels - 0.6764 (61.8% Fib), 0.6742 (5-DMA), 0.6717 (200-DMA)

Resistance levels - 0.68, 0.6840 (78.6% Fib), 0.6856 (110W-EMA)

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
 

By Anupama Grandhi
  • Market Data
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