NZDUSD spends most of the day above March’s high. Is it a prelude to a run higher?

0.73538 is the March high

The NZDUSD is higher on the day and trades right around the high from yesterday at 0.7378. The high for the day reached 0.7289. That was the highest price since February 19th. We currently trade at 0.7378.  

The price action today had a low in the first hour of trading at 0.73479 (see chart above). The March 2018 high price reached 0.73538 (see daily chart below).  

Apart from the 1st hour, the price has remained above that old high at 0.73538. Bullish.  

Is it a prelude to a run higher?  

Maybe. Let’s say longs might use that level as a risk level.  Stay above is more bullish and the double top at the January and February highs will be targeted at 0.74367.