NZDJPY (1H) - short term bullish bias
The New Zealand dollar bounced off the 30-day moving average around the psychological level of 72.00. The strong momentum indicates rising interest in the kiwi after it broke above 73.00. On the hourly chart, the pair has been climbing along the moving averages. The RSI fell back from the over-bought area, suggesting that there is still room for a rally. We would expect the uptrend to keep going as long as the averages and the trend line offer support in case of a pullback.
Key support: 72.60
Key resistance: 73.20
The New Zealand dollar bounced off the 30-day moving average around the psychological level of 72.00. The strong momentum indicates rising interest in the kiwi after it broke above 73.00. On the hourly chart, the pair has been climbing along the moving averages. The RSI fell back from the over-bought area, suggesting that there is still room for a rally. We would expect the uptrend to keep going as long as the averages and the trend line offer support in case of a pullback.
Key support: 72.60
Key resistance: 73.20