GBP/NZD long set up
GBP/NZD has bounced off major trendline support at 1.8930, bias higher.
The pair has broken above daily cloud and technical studies have turned bullish.
RSI shows strength at 60 levels and is biased higher. Stochs point north and momnetum is bullish.
We see +ve DMI crossover and ADX is rising in support of the trend higher.
The pair is currently hovering around strong trendline resistance at 0.9575, breakout to see further upside.
On the flipside, 100-DMA is strong support at 1.9138, retrace below to see resumption of weakness.
Support levels - 1.9138 (100-DMA), 1.9113 (5-DMA), 1.9076 (20-DMA)
Resistance levels - 1.9275 (trendline), 1.9453 (Feb 8 high), 1.9462 (Jan 25 high)
Good to go long on breakout above 0.9275, SL: 1.9145, TP: 1.94/ 1.9450/ 1.95.
The pair has broken above daily cloud and technical studies have turned bullish.
RSI shows strength at 60 levels and is biased higher. Stochs point north and momnetum is bullish.
We see +ve DMI crossover and ADX is rising in support of the trend higher.
The pair is currently hovering around strong trendline resistance at 0.9575, breakout to see further upside.
On the flipside, 100-DMA is strong support at 1.9138, retrace below to see resumption of weakness.
Support levels - 1.9138 (100-DMA), 1.9113 (5-DMA), 1.9076 (20-DMA)
Resistance levels - 1.9275 (trendline), 1.9453 (Feb 8 high), 1.9462 (Jan 25 high)
Good to go long on breakout above 0.9275, SL: 1.9145, TP: 1.94/ 1.9450/ 1.95.
GBP/NZD extends 'Symmetric Triangle' breakout, eyes 200W SMA at 1.98.