NZD USD technical analysis
Yes ... All the desire of the southerners with their short positions was confidently knocked down by who bet on the further growth of the New Zealand currency. The trend on Friday afternoon was very confident on good bullish candlesticks on the higher time frames speak for themselves. Now, if you look at the H₁ time frame chart, the main task was to hold to back sales, buyers did it, the 0.7180 marks became a kind of springboard. Further, if we take a serious look at the chart, this is the Daily, then it can be seen that bulls have good prospects ahead, of course, not immediately with pullbacks, but at least excellent chances to re-test last year's maximum of the 73rd figure.
The tolerance of the southern pullback is quite possible, while we can issue it right from the beginning of the week, for example, the former resistance is the 0.7260 zone, after which the pair can again confidently resume its growth to overcome the barrier in the form of 0.7315. On the daily chart, the north's defense is support at 0.7130. Profits!
I agree about the level, but still I don’t look that far, up to 0.75 is still a long way off. As a part of the movement within the price channel, which I wrote about above, the price should not yet rise above 0.7360 and this, in my opinion, is the maximum, and then either a rollback again to the support trend line, or into a sideways corridor. In a word, I think that now even if the growth of the pair continues, it will not be so rapid and spoil us with kickbacks and protraction. This gives a chance to start slowly considering sales while of course without big goals.
Take profit 0.7350
Stop loss 0.7230