NZD/USD strong support at 0.7080, long dips for 0.7175

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
298 0 11
NZD/USD             longer term bias is definitely lower, but some consolidation likely.

The pair edges higher from session lows at 0.7077, intraday bias higher.

We see major support at 0.7080 levels, weakness seen on break below.

Daily Techs suggest upside, RSI is biased north and Stochs are on the verge of a rollover from oversold levels.

Major support levels - 0.7080 (5-DMA, 50% Fib), 0.7035 ( trendline ), 0.6985 (61.8% Fib).

Major resistance levels - 0.7124 (10-DMA), 0.7175 (38.2% Fib), 0.7205 (20-DMA).

Major event risk this week come from NZ             Q3 CPI             release and the GDT dairy auction (Tue).

Good to go long on dips around 0.7090/0.71, SL: 0.7040, TP: 0.7125/ 0.7175
Comment: TP1 achieved.
Comment: TP2 hit.
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