NZD/USD has settled around 0.8410

FXStreet (Moscow) - With NZD/USD making a daily high and low at 0.8747 and 0.8710 respectively, spot is currently trading at 0.8716, up 0.00% on the day so far.

Kiwi is in the track of Icarus

NZD/USD stabilized around 0.8720 level after a spectacular growth to 0.8747. It is the highest level since 2011, reached after a gauge of manufacturing increased to the highest since July. Kiwi has posted a strong bullish dynamics and there are no sighs of the reversal yet. It means that the currency is poised for new gains as long as it stays above 0.8700. The break below the above said key support level will trigger the downside correction with the initial aim at 0.8660. On the upside the resistance is seen at 0.8730 and followed by Asian high at 0.8747

What price levels and patterns have to be considered?

Resistance can be found ahead of spot at 0.8716 [Last Price], 0.8716 (Monthly High), 0.8716 (Weekly High), 0.8716 (Annual High), 0.8716 (YTD High) and 0.8729 (Yesterday's High).

Below, we can see support at 0.8715 (Daily Open), 0.8710 (Daily Low), 0.8703 (Hourly 20 EMA), 0.8697 (Weekly Classic R1) and 0.8697 (Daily Classic PP).