NZD/USD Price Analysis: Bulls stay on the way to 200-DMA around 0.6900

• NZD/USD grinds higher at weekly top, up for the fourth consecutive day.
• Monthly peak, 61.8% Fibonacci retracement add to the upside filters.
• Pullback remains elusive beyond 50-DMA, MACD favors buyers.

NZD/USD remains on the front foot around 0.6900 while printing a four-day winning streak during Friday’s Asian session.

In doing so, the Kiwi pair justifies the early-week bounce off the 50-DMA, as well as the following run-up beyond the 100-DMA, amid bullish MACD signals.

However, the 200-DMA level of 0.6915 challenges the NZD/USD bulls of late.

Also acting as the key upside hurdle is the monthly peak and 61.8% Fibonacci retracement (Fibo.) of October 2021 to January 2022 downside, respectively around 0.6930 and 0.6955.

Meanwhile, pullback moves may aim for the 50% Fibo. surrounding 0.6870 before dropping back to the 100-DMA level of 0.6810.

It should be noted, however, that an upward sloping trend line from late January and the 50-DMA, respectively around 0.6750 and 0.6730, will challenge the NZD/USD bears afterward.

In a case where the quote drops below 0.6730, it becomes vulnerable to test 2022 low near 0.6530.

NZD/USD: Daily chart

Trend: Further upside expected