• FxWirePro: NZD/USD bulls in control, pair on track to test 88.6% Fibonacci at 0.6608

    Source: FxWire Pro - Technicals / 06 Jul 2020 02:15:41   America/New_York

    NZD/USD chart - Trading View 

    NZD/USD extends bull run for the 6th straight session, bias strongly bullish.

    The major was trading 0.32% higher on the day at 0.6552 at around 05:50 GMT.

    Global stimulus hopes overshadowed rising coronavirus concerns, supporting the antipodeans.

    Price action has broken above 110W EMA at 0.6538. Next bull target lies at 88.6% Fib at 0.6608.

    Major and minor trend are bullish. Volatility is rising, together with strong momentum, we could see further gains.

    21-EMA is strong support at 0.6440. Break below could see dip till 200-DMA. Violation at 200-DMA negates bullish bias.

    Major Support - 0.6440 (21-EMA)

    Major Resistance - 0.6608 (88.6% Fib)
     

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