The NZD/USD pair has been trading sideways above the 0.7093 level. As you can notice on the H4 chart, the 0.7093 - 0.7055 zone is seen as a support zone and as a demand area. Only dropping below this area could invalidate an upside continuation and could bring selling opportunities.
On the other hand, staying above this zone and jumping above 0.7160 former high may announce an upside continuation.
Outlook!
Personally, I'll look for buying opportunities after jumping above 0.7160 and for selling signals if the pair drops below 0.7055.
The material has been provided by InstaForex Company - www.instaforex.comfrom RobotFX
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