NZD/USD is expected to trade with a bullish outlook. The pair rebounded from 0.7250 and broke above both 20-period and 50-period moving averages. The relative strength index is bullish above its neutrality level at 50, calling for a further upside.
Hence, as long as 0.7250 holds on the downside, a new challenge to 0.7310 and even to 0.7325 is expected.
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 show the support levels, while the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Resistance levels: 0.7310, 0.7325, and 0.7365.
Support levels: 0.7245, 0.7215, and 0.7175.
