NZD/USD is expected to trade with bullish outlook and pair is expected to continue its rebound. The pair validated a bullish reversal yesterday and is expected to post a new rebound. The relative strength index is positive above its neutrality area at 50. Last but not least, a bullish cross has been identified between the 20-period and 50-period moving averages. Therefore, as long as 0.6945 is not broken, look for further advance to 0.7010 and 0.7030 in extension.
Chart Explanation: 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: 0.7010, 0.7030, and 0.7075.
Support levels: 0.6910, 0.6880, and 0.6850.
