- NZD/USD breaks above 20-DMA, hits 3-week highs at 0.7020, bias higher.
- Potential 'Bearish Cypher' pattern seen on daily charts.
- Scope for test of 200-DMA at 0.7077. Bullish invalidation on close below 20-DMA at 0.6978.
- Support levels - 0.70, 0.6978 (20-DMA), 0.6949 (5-DMA)
- Resistance levels - 0.7077 (200-DMA), 0.7102 (38.2% Fib), 0.7145 (trendline), 0.7160 (100-DMA)
Recommendation: Good to go long on dips around 0.6980/0.70, SL: 0.6940, TP: 0.7075/ 0.71/ 0.7145