NZDUSD under bullish pressure today following the earlier upward reversal from the key support area lying between the long-term support level 0.6200 (which stopped the previous sharp weekly downtrend in 2015) and the lower daily Bollinger Band. The upward reversal form this support area started the active short-term corrective wave (ii) – strengthened by the support trendline of the daily down channel from April. Given the oversold weekly Stochastic indicator and the moderate New Zealand Dollar bullishness seen across the markets, NZDUSD is likely to extend the gains toward the next resistance level 0.6360. Strong support stands at the support level 0.6200.