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New Zealand Dollar Forecast: Five-Week Kiwi Rally Stalls at Resistance

New Zealand Dollar Forecast: Five-Week Kiwi Rally Stalls at Resistance 2021-04-29 16:10:00 Michael Boutros, Strategist New Zealand Dollar Technical Price Outlook: NZD/USD Weekly Trade Levels NZD/USD bulls attempt fifth weekly advance into confluent technical resistance Initial support 7111, 6941 (key)– Critical resistance 7265 Advertisement The New Zealand Dollar surged nearly 5% off the March lows against the US Dollar with NZD/USD attempting to mark a fifth consecutive weekly rally. The recovery takes price back above the objective yearly open and while the broader focus remains constructive, the immediate advance may be vulnerable into technical resistance here. These are the updated targets and invalidation levels that matter on the NZD/USD weekly price chart heading into next week. Review my latest Strategy Webinar for an in-depth breakdown of this Kiwitrade setup and more.

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