FX.co ★ NZD/USD upside breakout in view

NZD/USD stands right below a minor downtrend line. It could still rise as long as it stays above the uptrend line. As you already know from my previous forecasts, NZD/USD was expected to increase after jumping above the major downtrend line.

The minor downtrend line is seen as an upside obstacle. Jumping and stabilizing above it could signal upside continuation. Still, the high of 0.7055 is seen as an upside obstacle as well.

Trading Conclusion

We could have a new buying opportunity if the price jumps above the immediate obstacles and through the 0.7060 level. The psychological level 0.7100 is seen as an upside target.