NZDUSD (0.7261): The NZDUSD currency pair has been modestly drifting higher. Following the breakdown below 0.7333 level, price action formed a minor support level at 0.7280. A retest back to this level could see NZDUSD forming resistance. A reversal at this level will signal the downside price action. NZDUSD could be seen targeting the support at 0.7160. To the upside, a breakout above 0.7280 will keep NZDUSD trading flat within the resistance and support levels. Further gains can be expected only on a breakout above 0.7333 level.
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