NZD/USD: Bullish pressure accumulates

On the weekly chart of the NZD/USD we can see that the price has reached a very good resistance zone just below the 200 week exponential moving average, which is around the 0.7382 level. The lows of the recent weekly candles have been higher than the previous ones, indicating that the pressure is accumulating to the upside. There is a higher chance of seeing a bullish breakout and if the price breaks above the 200 week EMA, then it may try to go and visit the 0.7382 level. To the downside, the low around the 0.6947 level may act as support.