NZDUSD pair has been moving in an upward trend for some time. However, bullish momentum faded away recently. Looking at the H4 interval, the downward correction started after the pair reached the 0.7460 level. However, buyers managed to halt declines at 0.7240 support which is marked with the 61.8% Fibonacci retracement and the lower limit of 1: 1 structure. According to the Overbalnce methodology, the main trend still remains upward, and in case of a break above the 0.7310 resistance, upward move may accelerate. On the other hand, braking below the 0.7240 support will invalidate the bullish scenario.
NZDUSD interval H4. Source: xStation5
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