NZD/USD is expected to trade with bullish outlook above 0.7280. The pair is consolidating above its key support at 0.7280, which should maintain the buying interest. The relative strength index stands firmly above its neutrality level at 50. Even though a continuation of consolidation cannot be ruled out, its extent should be limited.
To conclude, as long as 0.7280 holds on the downside, a further rebound to 0.7360 and even to 0.7375 seems more likely to occur.
The black line shows the pivot point. Currently, the price is above the pivot point, which is a signal for long positions. If it remains below the pivot point, it will indicate short positions. The red lines are showing the support levels, while the green line is indicating the resistance levels. These levels can be used to enter and exit trades.
Resistance levels: 0.7360, 0.7375, and 0.7400.
Support levels: 0.7260, 0.7245, and 0.7220.
