NZD/USD
On the technical level, the New Zealand dollar – United States dollar(NZD/USD) hit an interesting crossroads yesterday. On the one hand, the pair is on the verge of an upwards breakthrough of its minor trend line. On the other hand, it is on the verge of a downwards breakthrough of the meaningful support level 0.7360.
The change in investor sentiment moves the chances towards an upwards breach of the trend line and a renewal of the upwards movement that is expected to continue all the way up until the resistance level that braked the pair's movement during the previous wave of upwards movement around 0.7850. To avoid a false breach it is best to condition deal entry to on a daily close over the trend line passing through 0.7470. On the other hand, a daily close under the 0.7340 support level may lead the pair south, towards the 0.7020 support levels.
