NZD/USD breaks 100-DMA to hit 2-week high, long dips
Solid New Zealand employment and GDT price data supports the kiwi.
NZD/USD breaks major resistance at 0.7196 (100-DMA & trendline) to hit 2-week high of 0.7227, bias higher.
Techs support further gains, Stochs and RSI are biased higher.
The pair has broken above 38.2% Fib and is on track to test 50% Fib at 0.7260.
Major support levels - 0.72 (38.2% Fib), 0.7196 (100-DMA and trendline), 0.7169 (5-DMA)
Major resistance levels - 0.7260 (50% Fib), 0.7265 (Oct 20 high), 0.7290 (Oct 3 high)
Focus remains on FOMC decision later on the day, while news flow related to the US elections will be also closely monitored.
Good to go long on dips around 0.7210/20, SL: 0.7170, TP: 0.7260/ 0.7290/ 0.73
NZD/USD breaks major resistance at 0.7196 (100-DMA & trendline) to hit 2-week high of 0.7227, bias higher.
Techs support further gains, Stochs and RSI are biased higher.
The pair has broken above 38.2% Fib and is on track to test 50% Fib at 0.7260.
Major support levels - 0.72 (38.2% Fib), 0.7196 (100-DMA and trendline), 0.7169 (5-DMA)
Major resistance levels - 0.7260 (50% Fib), 0.7265 (Oct 20 high), 0.7290 (Oct 3 high)
Focus remains on FOMC decision later on the day, while news flow related to the US elections will be also closely monitored.
Good to go long on dips around 0.7210/20, SL: 0.7170, TP: 0.7260/ 0.7290/ 0.73
Comment:
TP 1 hit
Comment:
Approaching TP 2
Comment:
All targets hit.
Broad-based USD selling stalls after hawkish Fed statement.
Pair struggling at 61.8% Fibo at 0.7313.
Break above could see further gains.
Broad-based USD selling stalls after hawkish Fed statement.
Pair struggling at 61.8% Fibo at 0.7313.
Break above could see further gains.