Kiwi jumps against Buck

The only yesterday described pattern on the NZD/USD currency pair has already been broken. The surge of the Kiwi against the Greenback was rather unexpected, as the rate easily bent the upper Bollinger band's resistance for more than then hours until the pair reached another resistance level. The additional resistance, which stopped the surge, was provided by the weekly R1 at the 0.7185 level. It is most likely that a period of consolidation will occur after the jump before the future short term direction is revealed. The pair is either going to reach for the 0.72 mark, where the monthly R2 is located at, or decline back down to the 38.20% Fibonacci retracement level at the 0.7134 mark.