NZD/USD trades around upper trend-line

Contrary to prognoses, the NZD/USD has unexpectedly stuck near the upper trend-line of an active descending channel. Moreover, it has even made a successful attempt to breakout upwards, but then was quickly neutralized by a combination of the 200-hour SMA at 0.7291 and the weekly PP at 0.7292. Unless no fundamental event happens, it is unlikely that the currency rate will fall to the bottom edge of the channel in the upcoming day. Therefore, it will most probably try to make new attempts to run to the north. Except for the upper channel line and the above resistance level, the path upwards is also blocked by the 20-, 55- and 100-hour SMAs. The fact that most of the technical indicators are located above the rate means that despite all attempts it might be reversed and thrown down towards the monthly PP at 0.7247.