NZDUSD is moving slowly south since pair reached on March 21th 50% abolition of the downward momentum . This downward movement took a form of a channel. Yesterday we witnessed weakening of the US dollar after the words of US President Donald Trump and also New Zealand dollar strengthened. As a result, the NZDUSD pair had a strong upward movement. The resistance that was the upper limit of the aforementioned channel was broken.If the up-trend continues, we may expect a retest of resistance at 0.7070. After its breaking, another key level of defence will be around 0.7135.
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