NZD/USD Technical Analysis: Climbs to 3-1/2 month tops, poised to extend the momentum towards 200-DMA

   •  The pair climbed to 3-1/2 month tops in the last hour and now seems to have found acceptance above 38.2% Fibonacci retracement level of the 0.7395-0.6424 April-Oct. downfall.

   •  Last week's move beyond a confluence hurdle - comprising of 100-day SMA and 23.6% Fibonacci retracement level was seen as a key trigger for bullish traders. 

   •  Technical indicators on the daily chart are holding in bullish territory, and are still far from being in the overbought zone, and support prospects for further near-term up-move.

   •  A follow-through move beyond the 0.6840-50 supply zone will add credence to the constructive outlook and lift the pair towards another confluence hurdle - 200-day SMA and 50% Fibo. level.
 

NZD/USD daily chart