Overview:
On the one-hour chart, the NZD/USD pair continues moving in a bullish trend from the support level of 0.7293. Currently, the price is in a bullish channel. This is confirmed by the RSI indicator signaling that we are still in a bullish trending market. The bias remains bullish in the nearest term testing 0.7359 and 0.7389. Immediate resistance is seen around 0.7359 levels, which coincides with the daily pivot. Moreover, the moving average (100) starts signaling a downward trend; therefore, the market is indicating a bullish opportunity above 0.7359. So it will be good to buy at 0.7359 with the first target of 0.7389. It will also call for a n uptrend in order to continue towards 0.7430. The strong weekly resistance is seen at the level of 0.7430. However, if a breakout happens at the support level of 0.7263, then this scenario may be invalidated.