NZDUSD 0.7400 incoming

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.