NZD/USD: bulls held up on 0.70 handle, a sell on rallies?

Currently, NZD/USD is trading at 0.7019, up 0.07% on the day, having posted a daily high at 0.7027 and low at 0.7012.

Fed's Lockhart: Cyclical rebound from crisis "largely done"

NZD/USD is stalling on the 0.70 handle after a series of bids from 0.6950 to aforementioned highs. The dollar was indeed weak at the start of the week overnight and the antipodeans have been performing despite a significant drop in the price of oil.

Meanwhile, analysts at Westpac noted that the price has been building positive momentum for a likely test of 0.7045 during the day ahead.
NZD/USD 1-3 month:  

The analysts look for lower to at least 0.6800. "The US dollar has had an impressive rise since the US election and has potential to rise further during the months ahead. The Fed’s assertive tightening projections plus US fiscal expansion should maintain upside pressure on US interest rates and the US dollar. Against that, the NZ economy is strong and dairy prices have risen, but these forces are subservient to the US dollar’s trend."

NZD/USD levels

Current price is 0.7019, with resistance ahead at 0.7021 (Daily Classic R1), 0.7022 (YTD High), 0.7022 (Weekly High), 0.7027 (Daily High) and 0.7034 (Yesterday's High). Next support to the downside can be found at 0.7014 (Daily Open), 0.7012 (Daily Low), 0.6998 (Hourly 20 EMA), 0.6987 (Daily Classic PP) and 0.6978 (Daily 20 SMA).