Technical Analysis: NZDUSD bulls flexing muscle above 21-day SMA
Having already refreshed the multi-month peak on Friday, NZDUSD bulls keep the reins while extending its run-up beyond the 21-day SMA. Although RSI conditions offer a bumpy road ahead, traders are inclined to challenge an ascending trend line from July 31, at 0.6830 now. However, the pair's further upside will be questioned by another rising resistance line, stretched from early-June, which currently stands near 0.6850.
During the quote's pullback, 0.6700 may offer an immediate halt during the fall to revisit the 21-day SMA level of 0.6690. Although the pair has all the odds to reverse from 0.6690, a downside break might not hesitate to challenge the monthly bottom surrounding 0.6600. Additionally, an ascending trend line from June 30, at 0.6540 now, will be on the bears' radar past-0.6600.