• FxWirePro: NZD/USD struggles at 0.73 handle, break above to see further upside

    Source: FxWire Pro - Technicals / 06 Mar 2018 23:55:48   Eastern Standard Time

    • NZD/USD has failed to extend break above 0.73 handle, slips lower from highs of 0.7310 to close at 0.7291.
    • The pair is currently trading at 0.7282 levels, down 0.12% on the day.
    • Price hovers around 20-DMA resistance at 0.7293, decisive break above could see further upside.
    • The pair has broken major trendline resistance at 0.7255 on 4H charts, break above 0.73 could see more gains.
    • On the daily charts, RSI is holding above 50 levels and Stochs are showing a rollover from near oversold levels.
    • Upside finds immediate resistance at 0.7435 (trendline) ahead of 0.7558 (July 27 high).
    • On the flipside, rejection at 20-DMA could see weakness till 0.7234 (55-EMA). Violation at 110-EMA could see major weakness.

    Support levels - 0.7258 (5-DMA), 0.7234 (55-EMA), 0.72

    Resistance levels -  0.73, 0.7341 (61.8% Fib retrace of 0.7437 to 0.7186 fall), 0.74

    Call update: Our previous call (https://www.econotimes.com/FxWirePro-NZD-USD-finds-stiff-resistance-at-07255-good-to-go-long-above-07265-1185213) has hit TP1.

    Recommendation: Watch out for decisive break above 0.73 for further upside.

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