NZD/USD Continued Climbing Today

Yesterday I spoke about how NZD/USD is testing the resistance at 0.7240 and today the pair managed to break above that resistance level and then continued moving to the upside provoked by the announcement of the US change in Non-farm Payrolls. Although initially the fundamentals caused a whipsaw – as they did for many other currency pairs – something that often happens after the announcement of this data, the pair recovered and continued climbing. Currently it is testing the resistance level at the previous high at 0.7293. Depending on how the daily candlestick will close today and how the pair will develop on Monday it will become clear whether it is forming a double top or whether it will continue moving to the upside towards 0.7380. I think that the latter scenario is more valid, but time will tell.