NZD/USD Technical Analysis: Kiwi bulls regain control on upbeat trade data, headed back to multi-week tops

   •  The pair showed some resilience below 50-hour SMA and stalled the overnight retracement slide from near six-week tops following the release of upbeat NZ trade balance data.

   •  The prevalent dip-buying interest was further supported by the fact that the pair has managed to hold comfortably above other important intraday moving average - 100 & 200-hour SMAs.

   •  Moreover, technical indicators on hourly/daily charts maintained their bullish bias and a subsequent momentum beyond mid-0.6800s will further reinforce the constructive outlook.

   •  A follow-through buying has the potential to lift the pair, beyond multi-week tops, towards reclaiming the 0.6900 handle en-route the 0.6930-40 supply zone and Dec. 2018 swing high.

NZD/USD 1-hourly chart