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FxWirePro: NZD/USD retraces dip below 21-EMA, resumption of upside eyes 88.6% Fib at 0.7320
NZD/USD chart - Trading View
NZD/USD was trading 0.74% higher on the day at 0.7222 at around 12:00 GMT, bias bullish.
The upbeat market mood weighed on the safe-haven USD and supported upside for the pair.
Price has retraced dip below 21-EMA and is set to resume upside. Scope for test of 88.6% Fib at 0.7320.
Major trend is bullish and analysis of the GMMA indicator shows shift in near-term trend.
RSI has edged above the 50 mark and Stochs are showing a rollover from oversold levels.
In the US economic docket, Philly Fed Manufacturing Index, Initial Weekly Jobless Claims and housing market data will be in focus for fresh trading impetus.