NZD/USD Formed a Double Top

It is quite obvious that NZD/USD is very bullish – the pair has been steadily moving to the upside for almost a month now, but it appears that movement might stall at least for a while, because the pair has formed a double top most obvious on the one-hour time-frame at the resistance at 0.7205. What is more, the pair has also formed a shooting star candlestick on the four-hour time-frame at the same resistance level. Should there be a retracement to the downside, the closest target is at 0.7150, which coincides with the (MA)89 indicator on the one-hour time-frame. On the other hand, the target of the overall bullish trend which the pair might reach eventually is likely at 0.7300 – 0.7320.