Overview:

NZD/USD is expected to consolidate with a bearish bias. NZD/USD is undermined by the positive dollar sentiment and Kiwi sales on buoyant AUD/NZD cross. But NZD/USD losses are tempered by the NZD/USD interest differential and increased investor risk tolerance. The daily chart is negative-biased as MACD is bearish, stochastics stays suppressed in the oversold zone, a five-day moving average is below 15-day MA and is declining.

Trading recommendations:
The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below its pivot point. Short position is recommended with the first target at 0.8645. A break of this target will move the pair further downwards to 0.8620. The pivot point stands at 0.8700. In case the price moves in the opposite direction and bounces back from the support level, then it will moves above its pivot point. It is likely to move further to the upside. In that scenario, a long position is recommended with the first target at 0.8745 and the second target at 0.8785.

Resistance levels:
0.8745
0.8785
0..8815

Support levels:
0.8645
0.8620
0.86