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NZD/USD is sidelined near 0.7330 at press time, having closed above the Jan. 5 high of 0.7315 on Monday. 

The daily chart shows Monday’s close has established a bullish higher high in continuation of the broader uptrend. 

However, the 14-day Relative Strength Index is yet to exit the bearish channel. Should that happen, the focus would shift to the psychological resistance of 0.75. 

A close under the former hurdle-turned-support at 0.7315 would invalidate the immediate bullish bias. The outlook will turn bearish when the pair finds acceptance under the ascending 50-day Simple Moving Average, currently at 0.7183. That pair created a higher low along that SMA support at the end of January. 

Daily chart

Trend: Bullish

Technical levels

 

Expert score

5

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