NZD/USD Is Very Bullish

NZD/USD also moved sharply to the upside today, once again after the pair reached the resistance which on the one-hour time-frame coincided with the (MA)89 indicator and was at 0.7260 and formed a hammer candlestick above that level on the same time-frame. Currently the rally still continues and the pair will likely reach the previous high at 0.7318. The question is whether it will form a double top at that level and then move to the downside, likely towards 0.7260 again, or there will be a further move to the upside. Should the latter scenario occur the pair will probably reach 0.7370 or even 0.7400.