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NZD/USD - Pressure mounts on key resistance

Since late June, NZD/USD has been pushing up against the 0.73-0.7325 area as we can see in the 4H chart below:

NZD/USD 4H Chart 8/22

(click to enlarge)

Bullish momentum:
- After NZD/USD cracked 0.73 in mid-June, price action came neutralized as it fell below 0.70 to make a lower low than the one we saw at the end of June.
- However, price action picked up some bullish bias since then. 
- Price has crossed above, and is holding above the 200-, 100-, and 50-period simple moving averages (SMAs). 
- The rSI has also pushed above 70 and has since held above 40, which reflects maintenance of the bullish momentum. 

Resistance has become critical:
- The multiple attempts and subsequent failure to break above the 0.73-0.7325 area has made this area a critical resistance.
- If price holds below 0.73 and falls below 0.7240, we might have some further consolidation, but a break below 0.72 will be needed to take some pressure off of the key resistance area. 
- If price can clear the 0.7325 level, NZD/USD could be opening up to a short to medium-term bullish outlook.
- To me, the bullish outlook exposes key levels around 0.7660, which involves a support/resistance area and the 200-week SMA. (refer to weekly chart below)

NZD/USD Weekly Chart


(click to enlarge)