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Long

Momentum studies on NZD/USD bullish, good to go long on dips

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
203 0 12
NZD/USD             is extending upside for the 3rd consecutive session.

Techs favour upside, momentum studies are bullish , we see scope for further gains.

Pair has bounced off lower Bollinger Band (July 21) and has held major trendline support at 0.6956 (July 25).

50-DMA resistance has been breached (July 27), pair now finds next major hurdle at 20-DMA by 0.7137.

We see weakness only below 0.7029 (50-DMA), violation there could take the pair to trendline at 0.6950.

On the upside break above 20-DMA at 0.7137 opens upside upto 0.73 levels.

Good to go long on dips around 0.71 levels, SL: 0.7030, TP: 0.7135/ 0.7155/ 0.72
Comment: All targets hit.

Momentum still bullish.

We see scope for 0.73 levels.

Weakness only below 0.7136
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