NZD/USD Is Bullish

NZD/USD has been moving to the upside for the past week or so, ever since it formed a doji candlestick and a spinning top candlestick above the support at 0.6950, which coincides with (MA)89 on the daily time-frame. At the moment the pair is consolidating sideways because it is testing the resistance at 0.7230, but a possible breakout above that level will likely lead to a further move to the upside towards the resistance at 0.7324, which is also the previous high. If it breaks out above that level we will likely see it reach the next resistance at 0.7390 – 0.7400, which coincides with (MA)89 on the weekly time-frame.