Buy on rebound from 0.6748 level with 0.6818 target. Stop loss = 0.6690.
Reason for the trading strategy
Last weekend, the Chinese authorities announced that they will close their eyes to a record high deficit and the increase in the money supply targets to ensure the economic growth is in the range of 6.5% -7.0%. Another expansion of monetary stimulus in China will support the commodity currencies. In the short term, the NZDUSD pair is likely to consolidate above the support level of 0.6748.