NZD/USD trades to a fresh yearly high (0.6998) as it retraces the decline from the start of the week, and the exchange rate may continue to appreciate over the remainder of the week as it climbs above the 200-Day SMA (0.6908) for the first time since November. 

NZDUSD D1 04 01 2022 1317
NZDUSD initiates a series of higher highs and lows after failing to test the 0.6870 zone, with the exchange rate pushing back  around 0.6940 to 0.6990 as it trades to a fresh yearly high (0.6998).

Need a close above the overlap around 0.6940 to 0.6990 to bring the 0.7070  to 0.7110  area on the radar, with a break above the October high (0.7219) opening up the 0.7260 region.

Failure to hold above the overlap around 0.6940  to 0.6990 may push NZD/USD back below the 200-Day SMA (0.6908), with a move below the 0.6870 zone, with the next area of interest coming in around 0.6770 to 0.6810  which largely lines up with channel support.

 

 

 

 

 

 

 

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