The New Zealand dollar is starting to pullback against the US dollar currency, after finding strong technical resistance around the 0.7300 level. NZDUSD bulls need to keep the price above the 0.7285 level to ignite a bullish inverted head and shoulders pattern. Any dips towards the 0.7200 level are likely to be seen as a major buying opportunity in expectation of a coming rally towards the March high, around 0.7470.
The NZDUSD pair is only bullish while trading above the 0.7200 level, key resistance is found at the 0.7285 and 0.7400 levels.
The NZDUSD pair is only bearish while trading below the 0.7200 level, key support is found at the 0.7170 and 0.7130 levels.
