NZD/USD Is Testing the Resistance at 0.6855

After several months of moving to the downside NZD/USD found some support at 0.6690 and bounced off from that level, but the question now is whether the pair will continue rising and forming its retracement as it has formed a clear shooting star candlestick at 0.6855 on the daily time-frame. Currently the pair is still testing that resistance and whether it will break out above it remains to be seen. If it bounces off from 0.6855 it will likely fall towards the last low at 0.6690 to test that support again, which could lead to the formation of a double bottom. On the other hand, if the pair breaks out above 0.6855 it will likely continue rising towards 0.6900.