NZD/USD is expected to trade with a bullish bias. Currently, the pair is trading at 0.6695. A trend remains bullish above the rising 50-period moving average, and the pair seems to be forming an intraday "bullish flag" pattern". The relative strength index is still positive above its neutrality area of 50. Besides, the process of moving towards higher highs and lows remains intact. To sum up, as long as 0.6660 holds on the downside, watch for a new bounce to 0.6720 and 0.6790 after limited consolidation.

Trading recommendations:

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. As long as the price holds above its pivot point, long positions are recommended with the first target at 0.6720 and the second target at 0.6790. In the alternative scenario, short positions are recommended with the first target at 0.6630 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 0.6590. The pivot point is at 0.6660.

Resistance levels: 0.670 0.6790 0.6830

Support levels: 0.6630 0.6590 0.6565