NZD/USD: capped at daily 20 sma, 0.7252, or more room to go?

Currently, NZD/USD is trading at 0.7258, up 0.31% on the day, having posted a daily high at 0.7263 and low at 0.7234.

NZD/USD  was pushing up through near-term resistance overnight and did so despite the GDT disappointment. The US dollar was whacked and this helped the commodity sector along in a fickle and double edged sword of a market place. We had half the market searching for yield in the higher bets and the other half buying back the yen and heading for cover due to the N.Korean situation.

Trump on N.Korea, what's the latest? - ANZ

"We still believe the 0.7130 level is in for another test at some stage, but that is unlikely today - support 0.7130 / resistance 0.7260," argued analysts at ANZ.

NZD/USD 1 day: 

"Worth watching the key 0.7200 level today – will it sustain last night’s break above? AU GDP will be influential today, as will be USD direction," analysts at Westpac explained.

NZD/USD 1-3 month:  

Further out, the analysts at Westpac explained again that if the RBNZ remains firmly on hold, as we expect, and the US dollar rises on tighter Fed policy, then NZD/USD could fall as far as 0.70 by year end. "Pre-election jitters may also weigh on the NZD," the analysts added.  

NZD/USD levels

To the upside 0.7280/00 as the next key and initial resistance area ahead of 0.7300 and the 0.7337 recent highs before 0.7370 (9th Aug high). To the downside, 0.7230 is the recent low ahead of the daily cloud base that is located at 0.7139. 0.7127 is the June 6 low and 0.7100 is a key psychological level.