NZD/USD 1H Chart: Channel Up

After struggling at 0.77 for about half a month NZD/USD has finally commenced a rally that in turn already surpassed the 200-hour SMA.

At the moment the currency pair is underpinned by 0.7890, created by the daily pivot point, four-hour S1 and up-trend line. Nonetheless, the technical signals are giving only weak ‘buy' signals. Moreover, the share of bullish towards the pair SWFX traders (53%) has a negligible advantage over the bears (47%). Still, we should rather focus on the nearest resistances, some of the most important for the short run are located at 0.7930, 0.7953, 7993 and 0.8034.