The NZD/USD jumped above the median line (ml) of the minor descending pitchfork and above the 61.8% retracement level. A valid breakout above these levels will signal a further increase on the short term. It could approach the upper median line (uml) of the minor descending pitchfork if the USDX will slide further.
Resistance could be found at the 0.7131 level and much higher at the 50% retracement level. I’ve said in a previous report that the rate could develop a Falling Wedge pattern, but this is far from being confirmed.
