FxWirePro: NZD/USD erases early losses, extends break above 78.6% Fibonacci
Source: FxWire Pro - Technicals / 23 Jun 2020 08:01:59 America/New_York
NZD/USD chart - Trading View
NZD/USD edges higher from session lows at 0.6436. Bias has turned bullish on the intraday charts.
The pair was trading 0.20% higher on the day at 0.6493 at around 10:30 GMT, trades above 78.6% Fib.
Price action is above 200-DMA and daily cloud. The pair has bounced off 21-EMA raising scope for further upside.
Bulls eyes 110W EMA at 0.6539. Momentum is bullish and volatility is rising. Break above 110W EMA will propel the pair higher.
21-EMA is strong support at 0.6390. Retrace below invalidates any bullish bias.
Major Support - 0.6390 (21-EMA)
Resistance levels - 0.6539 (110W EMA)
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