NZD/USD Technical Analysis: Pushing into 0.980 but pressure remain

• Intraday action on the short-term charts sees bullish momentum draining out of the NZD/USD, with common support from the 2-period moving average at 0.6720.

NZD/USD chart, 5-Minute

• With the NZD/USD testing into 0.6800, shortside pressure remains firm, and a failure by Kiwi bulls to haul the pair meaningfully over the major barrier will see the Kiwi collapsing back into recentner

NZD/USD chart, 30-Minute

• The past three months have the Kiwi testing into a ceiling near 0.6820, getting support from the last swing low into the 0.6700 handle, while the 200-period moving average continues to firm up long-term support from 0.6580.

NZD/USD chart, 4-Hour