Overview:
NZD/USD to consolidate the bullish bias after hitting two-week high of 0.8585 Tuesday as markets await the U.S. FOMC interest rate decision. The NZD/USD underpinned by positive investor risk appetite; negative USD sentiment; the NZD/USD yield gap. But the NZD/USD gains tempered by weaker commodity prices. Daily chart positive-biased as MACD & stochastics is in bullish mode; five-day moving average has staged bullish crossover against 15-day MA.

Trading recommendations:
The pair is trading above its pivot point. The pair is likely to trade in higher range as far as it remains above its pivot point. As far as the price is above its pivot point, trading in higher range is most favorable and buy position is recommended above its pivot with the first target at 0.8585 and the second target at 0.8642. You should keep in view short position below the pivot keep of the first target at 0.851 , breach of this target will move the pair downward further and expect the second target at 0.8458. The pivot point stands at 0.855.

Resistance levels:
R1 - 0.8585 (Tuesday's high)
R2 - 0.8642 (April 12 high)
R3 - 0.8677 (20-month high hit April 11)
Support levels:
S1 - 0.851
S2 - 0.8474 (Monday's low)
S3 - 0.8466-0.8458 band (Friday's low-Thursday's low)