Kiwi is extending stellar quarterly NZ employment report led gains, while a big beat on the Chinese services PMI data for October also lends support to the antipodeans.
Technical studies support upside in the pair. and Stochs are biased higher.
is showing a crossover on signal line and on keeps scope for upside.
Price action currently struggling to break 50-DMA resistance at 0.6938. Break there finds next bull target at 0.7004 ( 200-DMA ).
On the flipside, we see weakness in the pair closes below 20-DMA support at 0.6898.
Support levels - 0.6898 (20-DMA), 0.6882 (5-DMA), 0.6790 ( )
Resistance levels - 0.6938 (50-DMA), 0.70 (converged 100 & 200-DMA ), 0.7020 ( )
Good to go long on break above 0.6938, SL: 0.6890, TP: 0.70/ 0.7020