NZDUSD Weekly Outlook - key resistance level to be broken for the bear market rally to be started

W1 price is on primary bearish with secondary ranging within the following key support/resistance levels:

• 0.6896 resistance level, and
• 0.6235 support level.
  

Absolute Strength indicator and Trend Strength indicator are estimating the bear market rally to be started.

• Chinkou Span line is located below the price indicating the bear market rally to be started in the near future.
• Ichimoku cloud together with 'reversal' Sonkou Span line is too far above the price which makes the bullish reversal to be unlikely in this year.
  
• "NZD/USD continues to act well. After breaking through the August high 2 weeks ago, the rate has put in 2 weeks of consolidation and maintained the breakout level."
• "There probably isn’t solid resistance until near .70. .70 represents channel resistance and the 200 day average."
  

If price will break 0.6235 support level so the primary bearish will be continuing.
If price will break 0.6896 resistance level so the bear market rally will be started within the primary bearish market condition.
If not so the price will be ranging within the levels.

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