NZDUSD continues the uptrend started at the beginning of December, it seemed that soon a correction of recent increases will take place, however, the pair consistently creates bullish weekly candles. The price is approaching the trend line so we can expect to have the first stop soon.
The weekly chart shows that the reflection took place on a strong support level, the pair tested the area three times in the past year. It is likely that the buyers are already heading to the upper limit – 0.7300.
In turn, on the H4 interval, we see an upside channel, NZDUSD tested the lower support line at night, which coincides with resistance 0,7020 and this behavior of the price indicates the potential for further increases, where the nearest target will be the vicinity of area at 0.7150.
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