NZD/USD Bounced off from 0.7300

NZD/USD bounced off from 0.7190 and started moving to the upside last week, rallying sharply for the past few hours and briefly broke out above the resistance at 0.7280, which coincides with the (MA)89 indicator on the four-hour time-frame, until it finally found some resistance at 0.7300 and started retracing to the downside. The retracement was unsurprising, considering the obvious shooting star candlestick on the one-hour time-frame at 0.7300. The next target to the downside will likely be around 0.7245, which coincides with the same (MA)89 indicator, but on the one-hour time-frame. A breakout below that level could lead to a further drop towards the last low at 0.7217.