FxWirePro: NZD/USD trades above 0.61 handle, focus on FOMC minutes for further impetus

NZD/USD chart - Trading View 

NZD/USD breaks above 0.61 handle, slips lower from session highs at 0.6117.

The pair was trading 0.77% higher at 0.6118 at around 10:15 GMT, after closing 0.51% higher in the previous session.

Price action is hovering around 50% Fib and bullish momentum is set to carry the pair higher.

Stochastics have rolled over from oversold levels and RSI is above 50 and biased higher.

Price action is above daily cloud and is on track to test next major resistance at 110-EMA at 0.6187.

FOMC minutes due today be in focus for further impetus. U.S. Markit PMI and Existing Home Sales will also have impact on price movement.

Minutes will be scrutinized for hints to the missing economic and rate projections. Any new clues on negative rates could dent the USD, pushing the pair higher.

Support levels - 0.6083 (55-EMA), 0.6044 (21-EMA), 0.5986 (Daily cloud)

Resistance levels - 0.6187 (110-EMA), 0.6264 (61.8% Fib), 0.6320 (200-DMA)