NZD/USD analysis: Bullish trade with upside bias

NZD/USD analysis: Bullish trade with upside bias

In the mid-term, the price has broken through Fibonacci 50.0 resistance level at 0.6655. With price above 14, 50, and 100 MA, there is upside bias for now.

Over the long-term, lower directional movement and greater activity is expected. In conclusion, flow direction is neutral. Greater activity could presage a higher movement, with 3 days net flow at 6. The market ended in non-balanced manner. With increase in volatility, it means more market opportunities. The total TPO increased compared to previous day. Data points to upside bias.

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