NZDUSD 0.6608 – bullish – Posts 7-week new highs near 50 day moving average
NZDUSD recovered strongly off the .6243/.6235 double bottom (September 7/23, 2015 lows) to post 7-week new highs near 50 day moving average currently at .6663. Above would expose the resistance cluster including .6707 (August 21, 2015 lower high) and .6770 (July 10, 2015 high) near 38.2% of the .7743/.6196 fall. Overbought RSI should caution for pullbacks. .6535/.6436 (October 7/5, 2015 lows) serves as support zone to limit dips.
Outlook:
Daily: bullish
Weekly: neutral
NZDUSD recovered strongly off the .6243/.6235 double bottom (September 7/23, 2015 lows) to post 7-week new highs near 50 day moving average currently at .6663. Above would expose the resistance cluster including .6707 (August 21, 2015 lower high) and .6770 (July 10, 2015 high) near 38.2% of the .7743/.6196 fall. Overbought RSI should caution for pullbacks. .6535/.6436 (October 7/5, 2015 lows) serves as support zone to limit dips.
Outlook:
Daily: bullish
Weekly: neutral
