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NZD/USD testing 0.7975/80

FXStreet (Córdoba) - NZD/USD broke above 0.7950 and rose to test an important short term resistance level located around 0.7975/80; a level that is offering resistance since late October.

NZD/USD rebounds at 0.7900, back to 0.7975

After starting the week with a positive tone at 2-week highs, pulled back and retreated. The pair filled a bullish gap and bottomed at 0.7899. Today the pair approached the 0.7900 area again but rebounded and gained upside momentum.

The 0.7975/80 area remains important from a technical perspective. If the pair breaks higher it would be trading at the strongest level since October 21. Kiwi holds a bullish tone against Greenback in the short term, but needs to rise above the mentioned resistance to rally further, toward 0.8000.

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