NZD/USD is expected to continue its upside movement. The pair has revealed higher highs and higher lows since May 1, which confirms the bullish outlook. The upward momentum is further reinforced by the rising 20-period and 50-period moving averages. The relative strength index advocates for a further advance.

Therefore, as long as 0.6925 is not broken, look for a further upside to 0.6970 and even to 0.6990 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 0.6970 and the second one at 0.6990. In the alternative scenario, short positions are recommended with the first target at 0.6900 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 0.6880. The pivot point is at 0.6925.

Resistance levels: 0.6970, 0.6990, and 0.7025

Support levels: 0.6900, 0.6880, and 0.6850