NZD/USD is still bullish in the short term despite the most recent decline. Making a valid breakout through the median line (ML), NZD/USD could register a broader growth. The traders are waiting for the US data and for the Fed Chair Powell speech before taking action. The NZD/USD price dropped a little in the short term after reaching a confluence area. It’s traded at 0.6950 at the moment of writing. The traders are waiting for the US data and for the FED Chair Powell Speaks before taking action. The Dollar Index is trapped within a minor range. Only a valid breakout from this pattern could bring fresh opportunities. –Are you interested to learn more about ECN brokers? Check our detailed guide- In the short term, the NZD/USD pair could still rise after the last minor decline. Technically, a temporary decline was somehow expected after its last swing higher. However, surprisingly or not, the USD has gained a little even if the US Prelim GDP has increased only by 6.6%. In contrast, the Unemployment Claims indicator has risen unexpectedly to 353K in the previous week. The Fed Chair Powell remarks about the economic outlook at the Jackson Hole Economic Policy Symposium could bring high volatility and sharp movements. Also, the Revised UoM Consumer Sentiment, Personal Spending, Personal Income, and the Core PCE Price Index could bring life to the NZD/USD pair. Get FREE Forex Signals Now! NZD/USD Price Technical Analysis: 0.6922 As Key Level! NZD/USD 4-hour price chart The NZD/USD pair has found temporary resistance at the ascending pitchfork’s median line (ML). The confluence area formed at the intersection between the median line (ML) with the R1 (0.6981) stopped the upwards movement. –Are you interested to learn more about making money in forex? Check our detailed guide- A temporary decline was somehow expected. The price could try to attract more bullish energy, more buyers before jumping higher. 0.6922 level is seen as static support. Staying above it could signal that the NZD/USD could come back towards the median line (ML). An important upwards movement could be activated by a valid breakout through the median line (ML). It could come back towards the weekly pivot point (0.6893) if the Dollar Index comes back towards the 93.19 and 93.43 resistance levels. Looking to trade forex now? Invest at eToro! Trade Forex Now! 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Saqib Iqbal Saqib Iqbal Saqib Iqbal is a market analyst, prop fund trader and mentor, serving the industry with his analysis and educational content since 2011. The author has great exposure to different financial markets and institutions. He's well-known for his day trading reviews and multiple timeframe analysis. View All Post By Saqib Iqbal Majors share Read Next GBP/USD Outlook Turns Bearish as Powell Appears Cautious at J. Hole Saqib Iqbal 1 year NZD/USD is still bullish in the short term despite the most recent decline. Making a valid breakout through the median line (ML), NZD/USD could register a broader growth. The traders are waiting for the US data and for the Fed Chair Powell speech before taking action. The NZD/USD price dropped a little in the short term after reaching a confluence area. It’s traded at 0.6950 at the moment of writing. The traders are waiting for the US data and for the FED Chair Powell Speaks before taking action. The Dollar Index is trapped within a minor range. Only a valid… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.