The NZD/USD could approach and reach fresh new highs as long as the DXY resumes its drop. The bias remains bullish as long as the pair is traded within the ascending channel’s body. The upper median line (UML) could attract the price after making a valid breakout through the median line (ML). The NZD/USD price continues to increase even if the Dollar Index has found temporary support. The outlook is bullish as the price is trapped within an up-channel pattern. It could resume its growth as long as it stays within this formation. –Are you interested to learn more about day trading brokers? Check our detailed guide- The pair resumes the upward movement even if the United States data have come in better than expected. For example, the Unemployment Claims dropped from 353K to 340K in the last week versus 342K expected. In addition, the Trade Balance was reported at -70.1B below -70.7B estimate and compared to -75.7B, the Revised Nonfarm Productivity increased by 2.1%, below 2.4%, which is good for the USD. At the same time, the Revised Unit Labor Costs increased by 1.3%, beating 1.0% estimate. The United States Factory Orders indicator will be released later and is expected to increase by 0.4% in August versus 1.5% in July. This could bring more volatility to the NZD/USD pair. Worse than expected, data could weekend the greenback. Tomorrow, the Non-Farm Employment Change, Unemployment Rate, ISM Services PMI, and the Average Hourly Earnings will be decisive. Definitely, these high-impact events will shake all markets, so the sentiment could change. Get FREE Forex Signals Now! NZD/USD price technical analysis: Uptrend channel remains intact NZD/USD 4-hour price chart The NZD/USD pair is trading at 0.7104 level below 0.7106 today high. However, it’s strongly bullish after taking out the static resistance represented by the weekly R1 (0.7081) level. The next upside target stands at 0.7115 – 0.7125 resistance zone. –Are you interested to learn more about forex signals? Check our detailed guide- It has failed to come back to test and retest the uptrend line signaling strong buyers. Therefore, the upside line is seen as an upside target as well. Technically, the valid breakout through the ascending pitchfork’s median line (ML) signaled the current strong growth. From the technical point of view, the upper median line (UML) of the ascending pitchfork could attract the price as long as it stays above the uptrend line. You should know that the upside scenario could be invalidated only by a valid breakdown through the channel’s support. 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 Analysis: Trading Above 1.38 Despite Upbeat Data, Awaits NFP Saqib Iqbal 1 year The NZD/USD could approach and reach fresh new highs as long as the DXY resumes its drop. The bias remains bullish as long as the pair is traded within the ascending channel’s body. The upper median line (UML) could attract the price after making a valid breakout through the median line (ML). The NZD/USD price continues to increase even if the Dollar Index has found temporary support. The outlook is bullish as the price is trapped within an up-channel pattern. It could resume its growth as long as it stays within this formation. –Are you interested to learn more about… 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.