NZD/USD Continues to Surge Higher, Targets Levels 0.7100

 Key Resistance Levels: 0.6600, 0.6800, 0.7000
Key Support Levels: 0.6200, 0.6000, 0.5800

NZD/USD Price Long-term Trend: Bullish
NZD/USD pair is in an uptrend. On September 2 uptrend; the pair was resisted at 0.6800 high. The retraced candle body tested the 50% Fibonacci retracement level. It indicates that the Kiwi will rise and reach a high of 2.0 Fibonacci extension level. In other words, the market will reach a high of level 0.7100.

Daily Chart Indicators Reading:
The Kiwi has risen to level 52 of the Relative Strength index period 14. It implies that the pair is in the uptrend zone and above the centerline 50. The 50-day SMA and 21-day SMA are sloping upward. It indicates the uptrend


NZD/USD Medium-term Trend: Bullish
On the 4-hour chart, the NZD/USD pair is in an upward move. A bullish trend line is drawn showing the support levels. The pair is rising as it reaches the high of level 0.6715. The market has initially fallen to level 0.66200.

4-hour Chart Indicators Reading
The 50-day and 21-day SMAs are sloping downward. It indicates that the recent downtrend. The pair is above 80 % range of the daily stochastic. It indicates that the market is in a bullish momentum. It also reaches the overbought region of the market.

General Outlook for NZD/USD
The NZD/USD pair is making an upward move. According to the Fibonacci tool, the Kiwi will rise to 2.0 Fibonacci extension level or the high of 0.7100. The market has risen and reached level 0.6715.



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