NZD/USD Technical Analysis: bullish bias, eyes 0.68

• The NZD/USD is currently trading at 0.6770, having clocked a low of 0.6754 earlier today.
• The pair has charted higher lows and higher highs pattern in the last 24 hours, adding credence to the falling channel witnessed yesterday.
• The stacking order of the 50-hour exponential moving average (EMA), above the 100-hour EMA, above the 200-hour EMA indicates the path of least resistance is on the higher side.
• The 14-hour relative strength index is also reporting bullish conditions above 50.00.
• The spot looks set to test the psychological hurdle of 0.68 in a day or two. The bullish setup would be invalidated if the spot dips below 0.6734, violating the higher low setup.

Hourly Chart

Trend: Bullish