The New Zealand dollar is undergoing a pullback against the US dollar currency, following last weeks price rally towards the 0.7045 resistance level. The latest dip could provide a buying opportunity as the RBNZ are starting to turn more bullish towards hiking rates. NZDUSD bulls may look to buy around the 0.6980 to 0.6950 area in expectation of a recovery to new highs.
The NZDUSD pair is only bearish while trading below the 0.7000 level, key support is found at the 0.6980 and 0.6950 levels.
The NZDUSD pair is only bullish while trading above the 0.7000 level, key resistance is found at the 0.7045 and 0.7120 levels.
