NZD/USD Technical Analysis: Kiwi near 4-week’s high supported at 0.7025

• Kiwi bulls break above the daily 200-period simple moving average confirming the bullish bias on the  pair as it is trading near 4-week’s high.
• Immediate support is seen at 0.7025 last Thursday’s high and at the 0.7000 handle.  
• As NZD is correlated to AUD, the Reserve Bank of Australia rate statement at 4:30 GMT can affect the NZD as well.   The event can potentially be very volatile.

NZD/USD 15-minute chart  

Spot rate:                     0.7036
Relative change:          0.76%      
High:                             0.7049
Low:                              0.6977

Trend:                           Bullish

Support 1:                    0.7025 last Thursday’s high                
Support 2:                    0.7000 handle                                    
Support 3:                    0.6960 last Friday’s low      

                               
Resistance 1:               0.7053 May 4 high
Resistance 2:               0.7153 March 21 low    
Resistance 3:               0.7200 handle