NZD/USD 1H Chart: Triangle

At the moment NZD/USD is trading at the lower edge of the symmetrical triangle, meaning that the near-term outlook is bullish. But the currency pair will have to breach a combination of the weekly PP and 200-hour SMA in order to reach the upper trend-line at 0.8660, which is the key to further advancement of the New Zealand Dollar against its U.S. counterpart. If the bullish momentum is preserved, as suggested by the daily technical indicators, the May 15 and 5 highs at 0.8695 and 0.8780 respectively could be the next targets. On the other hand, we may consider the SWFX market that is bearish with respect to the pair—as many as 71% of all the open positions are short.