Technical analysis for NZD/USD is showing a breakout above 0.7070 on the 4H chart, an early signal for further upside potential. The first target of this target is at 1.272 FIB extension at 0.7160, the second target is at 1.618 FIB extension around 0.7200. Furthermore, if the NZD/USD pair breakout, above the resistance zone between 0.7245 – 0.7270, that will be a confirmation of the resumption of the weekly bullish trend, and it will send the price higher toward, first the previous daily high at 0.7464, and second toward the resistance at 0.7555.
On the other hand, if the NZD/USD pair breaks back below 0.7000, it will resume the daily bearish run toward, first the previous daily low at 0.6943, and second toward the 100% FIB extension at 0.6900 and potentially toward the 1.272 FIB extension at 0.6800.
Review our technical analysis for NZD/USD pair for 2021 targets.
4H chart:
Daily chart:
