FxWirePro: NZD/USD breaks above 78.6% Fibonacci, eyes 110w EMA at 0.6537
Источник: FxWire Pro - Technicals / 05 июл 2020 12:57:41 America/New_York
NZD/USD chart - Trading View
NZD/USD extends gains for the 3rd straight session, breaks above 78.6% Fib at 0.6480.
The major was trading 0.29% higher at 0.6495 at around 04:55 GMT, after closing 0.34% higher in the previous session.
Better-than-expected New Zealand Building Permits data on Wednesday which showed a nearly 36% rise, beating forecasts for a 0.1% decline seem to keep the kiwi buoyed.
A big beat on China PMI data released during the week is also supporting the commodity currencies.
The pair currently remains under 0.6500 mark. Risk-tone remains mildly positive despite worries concerning the coronavirus and US-China.
Technical bias is bullish. Major and minor trend as evidenced by the GMMA are bullish. Momentum with the bulls and volatility is rising.
Close above 20-DMA and break above 78.6% Fib has raised scope for further upside. Next major hurdle lies at 110W EMA at 0.6537.
Traders shall focus on U.S. Nonfarm Payrolls data. Above-forecast data may cause a temporary rise in the US dollar.
Major Support - 0.6418 (21-EMA)
Major Resistance - 0.6537 (110W EMA)
© FxWire Pro 2020. All rights reserved. The FxWire Pro content received through this service is the intellectual property of FxWire Pro or its third party suppliers. Republication or redistribution of content provided by FxWire Pro is expressly prohibited without the prior written consent of FxWire Pro, except for personal and non-commercial use. Neither FxWire Pro nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon.