The NZD/USD pair continues to move upwards from the level of 0.6824.Today, the first support level is currently seen at 0.6824, the price is moving in a bullish channel now.
This support has been rejected three times confirming the veracity of an uptrend.
The key support of Kiwi will be found at the level of 0.6824 providing a clear signal to buy with a target seen at 0.6922.
If the trend breaks the major resistance at 0.6824, the pair will move upwards continuing the bullish trend development to the level 0.6922 in order to test the daily resistance 1.
The NZD/USD pair is showing signs of strength following a breakout of the highest level of 0.6922.
On the H1 chart. the level of 0.6824 coincides with 61.8% of Fibonacci, which is expected to act as minor support today. Since the trend is above the 61.8% Fibonacci.
Major support is seen at the level of 0.6824 .
Furthermore, the trend is still showing strength above the moving average (100).
Thus, the market is indicating a bullish opportunity above the above-mentioned support levels, for that the bullish outlook remains the same as long as the 100 EMA is headed to the upside.
Moreover, if the pair succeeds in passing through the level of 0.6865, the market will indicate a bullish opportunity above the level of 0.6922. A breakout of that target will move the pair further upwards to 0.6973.
Buy orders are recommended above the area of 0.6865 with the first target at the level of 0.6922; and continue towards 0.6973.
On the other hand, if the NZD/USD pair fails to break out through the resistance level of 0.6922; the market will decline further to the level of 0.6763 (daily support 2).
