NZD/USD: technical analysis suggests an extension of the bullish rally (Natixis)

Natixis maintains a bullish bias on the NZD/USD in the short and medium term.

"Daily indicators have turned around, daily volatility has increased and the weekly stochastic indicator is rising, suggesting an extension of the rally in the coming days.

Note that a break of 0.7052/73 (Bollinger's moving average - weekly) would add weight to the bullish reading, decreasing the chances of a new pullback towards 0.6840 (lower Bollinger band), and pave the way towards 0.7110 (50-week moving average), 0.7158/0.7174, ahead of 0.7205.

The support levels are at 0.70/0.7020, 0.6962, 0.6900, 0.6840 and 0.6785/0.68."