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

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
225 0 10
2 months ago
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

2 months ago
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)
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out