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NZD/USD Price Action Analysis - bullish breakout with 0.6773 as the next daily target

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by , 02-27-2016 at 10:22 AM (1177 Views)
      
   
Daily price was crossed 200-day SMA/100-day SNA area for the bullish reversal with Fibo support at 0.6773 as the next target for the bullish trend to be continuing:

  • "The New Zealand Dollar is attempting to renew upside momentum against its US namesake as prices broke upward to the highest level in nearly two months. The currency mounted a swift advance following an unexpectedly strong set of trade figures."
  • "Near-term resistance is at 0.6746, the 50% Fibonacci expansion, with a break above that on a daily closing basis exposing the 61.8% level at 0.6794. Alternatively, a reversal below the 38.2% Fib at 0.6699 paves the way for a challenge of rising trend line support set from late January, now at 0.6631."

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Trend:

  • D1 - rbullish breakout


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