NZD/USD eyes 0.6880, stay long on dips

Momentum with the bulls. RSI has edged above 50 and Stochs have rolled over from oversold levels.
Strong support seen at 20-DMA at 0.6827. Trendline resistance at 0.6880 in sight ahead of 0.6925.
Retrace below 20-DMA can see dip till daily cloud. Bearish invalidation likely below 200-DMA.
Focus will be on monthly inflation figures from the US.

Support levels - 0.6828 (20-DMA), 0.6816 (21-EMA), 0.68 (converged 5-DMA and 55-EMA)
Resistance levels - 0.6880 (trendline), 0.6928 (trendline), 0.6941 (Feb 1st high)

Good to go long on dips around 0.6830/40, SL: 0.68, TP: 0.6880/ 0.6920

Kommentera:

Approaching TP1.