Momentum studies on NZD/USD bullish, good to go long on dips
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
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
Momentum still bullish.
We see scope for 0.73 levels.
Weakness only below 0.7136