Review and dynamics
NZD/USD remains in the ascending channel on the weekly chart with the upper limit above the level of 0.7550 (Fibonacci 50.0% after the decline in pair from the level of 0.8800, since in July 2014).
This month the pair NZD/USD started to grow, rebounding from support level of 0.7075 (ЕМА200 on the daily chart). The increase in commodity prices, primarily in the price of milk, provides support the NZD, especially taking into account that the increase in the US interest rates next week has already been incorporated in the price of the USD.
On the 4-hour chart the pair NZD/USD is in the short-term ascending channel above support levels of 0.7130 (ЕМА200 on 4-hour chart) and 0.7155 (ЕМА50 on the daily chart).
The upper limit of the short term ascending channel is near 0.7240 (Fibonacci 38.2% and ЕМА144 on the weekly chart). It is likely that this level will be the next goal if the pair continues to rise. Next target will be at the level of 0.7340 (ЕМА200 on the weekly chart).
On the daily chart the indicators OsMA and Stochastic give buy signals; on the 4 hour and weekly charts the indicators also give signals for long positions.
As an alternative scenario we can assume that the pair will decline. Breakdown of support levels of 0.7330 and 0.7130 (ЕМА144 on the daily chart) will trigger further decline to support level of 0.7075 (ЕМА200 on the daily chart), or to the levels of 0.6975, 0.6860 (Fibonacci 23.6% after the decline in the pair from the level of 0.8800 since July 2014).
As long as the pair NZD/USD remains above support level of 0.7075 (ЕМА200 on the daily chart), uptrend will continue.
Support levels: 0.7155, 0.7130, 0.7110, 0.7075, 0.7050, 0.6975, 0.6930, 0.6900 and 0.6860.
Resistance levels: 0.7210, 0.7240, 0.7340, 0.7380, 0.7485 and 0.7550.
Sell Stop: 0.7130. Stop-Loss: 0.7180. Take-Profit: 0.7110, 0.7075, 0.7050, 0.6975, 0.6930, 0.6900 and 0.6860.
Buy on the market. Stop-Loss: 0.7130. Take-Profit: 0.7210, 0.7240, 0.7340, 0.7380, 0.748 and 0.7550.
Indicators give BUY signals
In the ascending channel