The New Zealand dollar is at a critical juncture against the US dollar currency as the pair continues to battle with key trendline resistance. Dual trendline resistance exists are the 0.7100 level on the four-hour time frame and remains a key technical area the NZDUSD pair must overcome. Failure to break above the 0.7100 level could result in a pullback towards the 0.7030 area.
The NZDUSD pair is only bullish while trading above the 0.7100 level, key resistance is found at the 0.7230 and 0.7310 levels.
The NZDUSD pair is only bearish while trading below the 0.7100 level, key support is found at the 0.7030 and 0.7000 levels.
