NZD/USD Price Analysis: Sits near multi-week top, bulls await a move beyond 61.8% Fibo. – by hareshmenghani NZDUSD Technical Analysis RBNZ CPI Currencies
The technical setup favours bullish traders and supports prospects for further gains.edges higher for the third successive day on Tuesday and trades around the 0.6215-0.6220 barrier or a nearly three-week high during the Asian session.
From a technical perspective, the recent breakout through a confluence resistance comprising the 100-day Simple Moving Average and a descending trend-line suggests that the path of least resistance for the NZD/USD pair is to the upside. Adding to this, oscillators on the daily chart have just started gaining positive traction and validate the constructive setup, supporting prospects for further near-term gains.
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