FxWirePro: NZD/USD hovers around new one-year high of 0.7188, bias higher
Thursday, June 23, 2016 5:15 AM UTC
- Broad based USD weakness and rising oil prices support NZD/USD higher.
- The pair hovers around new one-year high set yesterday at 0.7188 levels.
- Momentum studies are bullish, pair trades above major moving averages and RSI strength seen above 70 levels.
- Pair now finds immediate support and resistance at 0.7125 (5-DMA) and 0.72.
- Our previous call (http://www.econotimes.com/FxWirePro-NZD-USD-retreats-from-new-yearly-high-at-07169-bias-higher-224956) is progressing.
- Caution is advised, volatility to remain elevated till poll results tomorrow. We recommend holding for targets. Trade with tight stops.