NZD/USD is expected to trade with bullish bias above 0.69100. The pair is trading above its rising 20-period moving average, which plays a support role and maintains the bullish bias. The relative strength index is around its neutrality level at 50 and lacks downward momentum. The downside potential should be limited by the key support level at 0.6910.
Therefore, as long as this key level is not broken, look for a new rise to 0.6955 and even to 0.6975 in extension.
The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. Therefore, long positions are recommended with the first target at 0.6955 and the second one at 0.6975. In the alternative scenario, short positions are recommended with the first target at 0.6885, if the price moves below its pivot points. A break of this target may push the pair further downwards, and one may expect the second target at 0.6860. The pivot point is at 0.6910.
Resistance levels: 0.6955, 0.6975, and 0.7000
Support levels: 0.68885, 0.6860, and 0.6830
