NZDUSD Eyes Further Gains
The New Zealand Dollar made a nice upside move from the 0.7220 low against the US Dollar. The NZDUSD pair gained momentum and broke a bearish trend line at 0.7230 on the 30-min chart.
It is currently attempting a break above the 50% Fib retracement level of the last decline from the 0.7297 high to 0.7221 low.
There is a chance of a minor dip in NZDUSD, which may find support near 0.7250, 100 simple moving average and a bullish trend line on the same chart. As long as 0.7250 holds, there is a chance of a move towards the 0.7280 level or even 0.7300 in the near term.