FX.co ★ NZD/USD: further growth in cards

NZD/USD 0.6077 As Upside Obstacle!

The NZD/USD pair registered a strong upside movement and now is located at 0.6076 at the time of writing. It has developed an up channel, so as long as it stays above the uptrend line, the rate could approach and reach new highs.

Technically, the former high of 0.6076 represents an upside obstacle. It remains to see how it reacts around it.

NZD/USD Outlook!

Stabilizing above 0.6077 upside obstacle indicates further growth. The channel's upside line is seen as a potential target.