We've failed to develope a new, upward trend. Thus I prefer to assume that the original trend is still alive.
The rate seems to stop at the multiply tested since February support and resistance zone. This may lead to higher rates again.
The Kiwi seems to stop its decline here again at this support zone and may be willing to retest its falling resistance line once again.
Looks like if the attempt down is ending after yesterdays resurge.
The NZD has corrected its decline and is facing the resistances of the channel and the MA as well.
It is not yet the final break out of the downward waving flag but a break above some indicators. So it is perhaps better not to invest to much at this moment yet.
After the steep rise yesterday I have no doubt that the pressure will be strong enough to overcome the previous high of February decisively.
At the current level the price seems to be well supported so that we can either draw a descending triangle or a rising pitchfork. I prefered the latter one.
We are still in a clear uptrend. The corrections are becoming shorter. If this one will end here it will be a clear sign of a continuing rise.
The 50% Fibonacci Retracement has been completed and the price is facing some support here.
We left the retracement behind us and are starting another wave up now.
Falling further we are now belw the MA and, more important, we opened below a Harami Cross what is negating it.
The dollar did not succeed to break consitantly below the MA, tested back an fell again; a good sign of renewed downward drive.
At this completed due retracement in an uptrend we are facing a cross support and an indicator support at once. Thus a expect the uptrend to continue from here.
It has not yet gained momentum but when it will then we may see even more than the Fibanocci retracement.