FxWirePro
Long

NZD/USD holds 200-DMA support, good to long dips

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
225 0 10
NZD/USD             has taken 200-DMA             support and edged higher.

The pair is currently hovering around strong resistance at 0.7093 which is converged 5-DMA and 23.6% Fib.

Break above likely to see upside till 0.7167 (next major resistance 38.2% Fib).

Technical indicators support upside, RSI , Stochs and MACD are biased higher.

Bullish invalidation only on close below 200-DMA             . Test of channel base at 0.6965 then likely.

Support levels - 0.7085 (session low), 0.7044 ( 200-DMA             ), 0.70, 0.6965 (channel base)

Resistance levels - 0.71, 0.7114 (20-DMA), 0.7132 (Nov 29 high), 0.7167 (38.2% Fib), 0.72

Good to go long on dips around 0.7085, SL: 0.7040, TP: 0.7130/ 0.7160/ 0.7190/ 0.72


Comment: All targets hit.

100-DMA at 0.7196 is strong resistance.

Breakout finds next strong resistance at 0.7228 (50% Fib and Nov 11 high)
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