NZD/USD Price Analysis: On the way to 0.6985 horizontal hurdle

• NZD/USD prints three-day uptrend, refreshes intraday high.
• Break of short-term resistance line, firmer Momentum favor bulls.

NZD/USD stays on the bid for the third consecutive, refreshing daily high around 0.6945 during early Monday. In doing so, the Kiwi pair crosses a downward sloping trend line from September 23 amid a firmer Momentum line.

The Same helps the pair buyers to aim for the 12-day-old horizontal area around 0.6985-80.

However, any further upside will be challenged by another horizontal resistance zone near 0.7030-35, stretched from September 22.

Should NZD/USD bulls remain dominant past 0.7035, the late September high near 0.7095 becomes important to watch.

Meanwhile, pullback moves will aim for a three-day-old support line near 0.6920 before the rising trend line from September 30 near 0.6885 probes the bears.

In a case where the NZD/USD sellers conquer the 0.6885 support, odds of witnessing a fresh yearly low, currently around 0.6805, can’t be ruled out.

NZD/USD: Hourly chart

Trend: Further upside expected