Expected Next Movement for the New Zealand Index

It appears we are in for an expected uptrend for the New Zealand Index,

which indicates temporary strength for the New Zealand Dollar against most currencies.

The index has broken the downtrend on the hourly frame,

with positive divergence appearing, supporting a short-term uptrend.

The current uptrend is contingent upon a breakout and close above the current resistance,

located at 1.2275, as shown on the chart.

An uptrend is expected to target 1.2310 and 1.2350, respectively.

Of course, if the recent low is broken and the New Zealand Dollar closes below it at 1.2233,

the New Zealand Index is expected to continue its decline and continue to weaken.