NZD/USD Is Testing the Support at 0.7230

NZD/USD finally reached the support at 0.7230, which coincides with the (MA)89 indicator on the daily time-frame, but so far the pair has not been able to break out below it. What is more, the pair formed a hammer candlestick and an inverted hammer candlestick on the four-hour time-frame right at that support level before moving to the upside again. The rally will likely continue at least until the pair reaches its last high at 0.7310. On the other hand, should NZD/USD break out below the aforementioned support at 0.7230 there could be a further move to the downside towards the next strong support level, which is at 0.7130 and coincides with the (MA)89 indicator on the weekly time-frame.