FX.co ★ NZD/USD Resumes Its Uptrend

NZD/USD is trading in the gree and most likely it will stabilize above the 0.7171 former high. The uptrend is intact so we should expect the price to resume its swing higher. The USD dropped versus all its rivals and not only against the NZD as the USDX resumeed its sell-off.

The pair was moving sideways in the short term, accumulating more bullish energy. The new higher high registered further growth on the H4 signals.

NZD/USD Targeting New Highs!

NZD/USD moves higher within an up channel and is expected to approach at least the fourth warning line (wl4). The most recent breakout above the Pivot Point (0.7079) and through the third warning line (wl3) validated more gains.

Closing above the R2 (0.7201) indicates further growth towards the R3 (0.7277), it could also approach and reach the channel's upside line if the US data will disappoint today.

NZD/USD Trading Conclusion

The aggressive breakout through the R1 (0.7156) represented a buying opportunity with a potential target at the fourth warning line (wl4), around the 0.7240 level.

As I've said higher, some poor US data could boost the pair, so you could still catch further growth. Technically, you could search for long opportunities as long as NZD/USD is traded above the black uptrend line.