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NZD/USD 0.6545 Key Level!

The NZD/USD pair extended its growth and now is trading at 0.6512 at the time of writing. As long as it stays above the uptrend line, the pair could approach and reach new highs. Its failure to reach and retest the uptrend line signaled strong buyers.

As you can see on the H4 chart, the 0.6545 former high represents a potential upside obstacle. In the short term, we cannot exclude a temporary drop towards the uptrend line. NZD/USD could come back to test and retest this downside obstacle before resuming its growth.

NZD/USD Forecast!

A minor drop towards the uptrend line could bring new buying opportunities. Only dropping and stabilizing below the uptrend line could invalidate an upside continuation.

Also, jumping and stabilizing above 0.6545 could activate a larger growth.