Symmetrical Triangle on the Kiwi 4 hour chart

The NZD/USD has consolidated around the 0.7400 level and has formed what appears to be a symmetrical triangle formation on the 4 hour chart. The symmetrical triangle is a continuation pattern, but we should be careful, because the price may break out in any direction. None the less, the pattern has a higher probability of breaking out in the direction of the trend coming into the formation, which in this case is upwards. A bullish breakout could take the price to the 0.7500 level, where it may find some kind of resistance. However, if the price keeps heading higher, it may touch the 200 period exponential moving average (blue line) around the 0.7567 level, which could become an important resistance for the pair.