- NZD/USD edges higher from session lows at 0.7069, hovers around 20-DMA.
- Upside in the pair intact till pair closes above 5-DMA.
- We see scope for test of 100-DMA at 0.7192. Break above could see further upside.
- Our previous call (http://www.econotimes.com/FxWirePro-NZD-USD-finds-major-support-at-06965-good-to-go-long-on-dips-428285) has hit TP1.
- Support levels - 0.7043 (Dec 1 low), 0.70, 0.6971 (Nov 24 low), 0.6955 (channel base)
- Resistance levels - 0.7169 (Nov 30 high), 0.7192 (100-DMA), 0.72
Recommendation: Book partial profits, hold for upside.
FxWirePro's Hourly NZD Spot Index was at -17.5231 (Neutral), while Hourly USD Spot Index was at -80.6679 (Bearish) at 0645 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex