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NZD/USD is rebounding and is expected to trade with a bullish outlook. The pair has clearly reversed up and is now heading upwards to 0.7150.
Blue line - long-term resistanceThe US dollar index has managed to move above the 4-hour tenkan-sen. The price, however, remains in a bearish trend. Short-term resistance is at the kijun-sen at 92.40. Short-term support is at 92. Trend is bearish. The trend will change to bullish only if price breaks above the Kumo resistance at 93-93.40.
On a weekly basis, we could be forming a weekly bullish hammer reversal candle. A weekly close above 92.20 will be positive for the next week. A weekly close at the lows of this week will be a bearish sign for the next week. Weekly resistance is very important at 93.65. Break above it and we are off to 97.InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.