Since the beginning of the year, the currency pair gained almost 3.5% along with a rise of more than 1.0% registered last week and is in a bullish phase since early April. Last week the NZDUSD rally with a wide range and closed near the high of the week, in addition managed to close above the previous week high, which suggests a strong bullish momentum. The stochastic is showing a weak bullish momentum although is above the 50 mid line. The currency pair continues in a well-defined trading range with a top at 0.7435 down to support at 0.7153. With the NZDUSD approaching the top of the range is visible the initial entry of the bears or the exit of the skittish bulls that begin to take some profits. Expecting an upward move to the higher zone of trading range at 0.7335 on a bounce from the lower zone of the weekly resistance at 0.7279 (scenario 1) however a break below from the lower zone of a weekly resistance at 0.7279 may trigger the currency pair to the lower zone of the trading range at 0.7153 (scenario 2).