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Long

NZD/USD holds cloud support, buy dips, target 0.6840

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
133 0 3
NZD/USD             is extending recovery from 2-month lows at 0.6709 hit on 19th May and is attempting to retake the 0.68 handle.

The pair has broken trendline resistance at 0.6760, is above 5&10 DMAs and on track to test 50-DMA at 0.6832.

Intraday momentum is bullish , RSI is biased north and stochs on verge of a bullish rollover from oversold levels.

Cloud offers strong support on the downside, pair has held above cloud base at 0.6756, weakness only on break below.

Upside finds stiff resistance at 0.6813 (cloud top), 0.6832 (50-DMA) and then 0.6842 ( trendline 4H).

Good to buy dips around 0.6790/0.6795, SL: 0.6755, TP: 0.6830/0.6840
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