NZD/USD 1H Chart: Channel Up

Having established a tough support near 0.8650, NZD/USD was able to form a bullish channel, meaning the kiwi is expected to keep gaining value against the U.S. Dollar. However, in order for the bullish outlook to remain valid over the coming days, the currency pair should stay afloat above the rising trend-line at 0.8695. Right now this level is reinforced by the 200-hour SMA, weekly PP and Jun 20 low, decreasing the chance of it being breached in the nearest future. In case the demand area fails to underpin the New Zealand Dollar and allows the sell-off to extend, there will be no significant supports until 0.8652—the current location of the weekly S1 and Jun 17 low.