NZD/USD gaining momentum above the 200 SMA

NZD/USD gaining momentum above the 200 SMA

NZD/USD has plummeted to the Fibonacci level of 78.6% at 0.7279, according to our projections in the short-term. The pair is moving above the 200 SMA at H1 chart and it seems a bullish consolidation is ongoing and could allow further gains toward the Fibonacci target of -23.6% at 0.7484 once it breaks above January 24th highs. To the downside, the next key support lies at January 17th lows.

RSI indicator remains in the positive territory.

NZDUSDH1.png

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