NZD/USD Continues Its Uptrend, Breaks Level 0.7000

Key Resistance Levels: 0.7000, 0.7200, 0.7400
Key Support Levels: 0.6200, 0.6000, 0.5800

NZD/USD Price Long-term Trend: Bullish
The Kiwi has continued its upward move. The Kiwi has broken the resistance at level 0.7100. A retraced candle body tested the 78.6% Fibonacci retracement level. The resistance indicates that the Kiwi will rise and reach the level of 1.272 Fibonacci extensions. The Kiwi is currently on an upward move.

Daily Chart Indicators Reading:
The Kiwi has risen to level 72 of the Relative Strength Index period 14. It indicates that the pair is in the overbought region of the market. The 50-day SMA and 21-day SMA are sloping upwardly indicating the uptrend.

NZD/USD Medium-term Trend: Bullish
On the 4-hour chart, the NZD/USD pair has resumed an upward move. The pair is revisiting the previous high of level 0.7150. The Kiwi was rejected in the previous uptrend.

4-hour Chart Indicators Reading
The 50-day and 21-day SMAs are sloping upward. It indicates that the pair is in an uptrend. The Kiwi is above the 60% range of the daily stochastic. It indicates that the market is in a bullish momentum.

General Outlook for NZD/USD
The NZD/USD pair is in an uptrend and broken level of 0.7100. Kiwi may resume upward after a minor retracement. The Fibonacci tool has indicated the reversal of the currency pair.



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