NAB discusses NZD/USD technical outlook and maintains a bullish bias on a multi-months basis.
"Since bottoming in October 2018 price has produced many impulsive up weeks and incremental declines. This is typical MT uptrend structure. December/January decline has occurred above the broken downtrend and is thus deemed a correction," NAB notes.
"Recent correction held above 0.6690/0.6710 trend support and thus maintained the MT uptrend bias. Weekly close above the 50-week MA at 0.6856 will confirm the sustainability of the MT uptrend. MT target at 0.7120, 4 year trend resistance," NAB adds.