The New Zealand dollar is attempting to stabilize against the US dollar as risk trading sentiment continues to boost commodity-related currencies. Technical analysis shows that the NZDUSD pair could be targeting the 0.7400 level in the short to medium-term. Traders that are bullish towards the NZDUSD pair this week may look to buy price dips below the 0.7220 support level.
The NZDUSD pair is only bearish while trading below the 0.7220 level, key support is found at the 0.7200 and 0.7180 levels.
The NZDUSD pair is only bullish while trading above the 0.7220 level, key resistance is found at the 0.7300 and 0.7400 levels.