Expected Strength for the New Zealand Dollar Soon

The New Zealand dollar has begun forming strong reversal patterns.

Signs of accumulation are starting to appear,

with the formation of new strong demand zones on the 4-hour timeframe.

The index has managed to break through previous resistance levels,

which were located near the 1.1850 level.

This indicates a return to buying pressure at present.

If the index rises, this will signify strength for the New Zealand dollar

against most major currencies.

Expected Targets

Current forecasts indicate an upward move if the new demand zones,

which have formed near the 1.1813 level, are tested.

The upward move is expected towards the targets identified on the chart,

which are located near the 1.1850 and 1.1900 levels.

The bullish scenario is invalidated if the previous support levels

 are broken and the price closes below them with a full candlestick,

specifically a close below the 1.1744 level shown on the chart.