The NZD/USD has been a star performer today, really the only currency showing much punch aside from the USD vs the EUR and GBP. The 1-hour picture is an interesting one, and there were a few positive sings to take away. First, the pair found support right at the 200-EMA (in gray). That is usually used as a key support/resistance level by currency pairs that may be in a trend. Second, we had a break out from a short-term downward sloping channel. Third, the pair turned up quite nicely after going into oversold territory in the RSI. Now, the dominant trend in this time-frame comes is up, if we consider the rally we saw from January 10th-14th, and today's support come fairly close to a 61.8% retracement of that upswing. Taking those factors together, the support then around 0.8295 was a technical one. The key is what happens next as the pair approaches resistance at 0.8360. This level was a key support that was broken, then retested as resistance and likely has orders clustered around it. Therefore, if the pair manages to push above that level and hold above, then the Kiwi may be looking to add onto its gains. However a failure to move above that level would spell another downswing and a retest of the support that held today.