The New Zealand dollar showed
excellent performance during today’s trading against the greenback, ticked 1.3%
higher during the London session and reached an intraday high at $0.7264,
letting go all resistance levels. The main engine that powered today the NZD/USD pair was the expected meeting of RBNZ and the anticipation of rate cut to new
historical low of 2%.
RSI was showing overbought market in the early afternoon
hours, but currently is indicating slight bearish trend. On the other hand
momentum is welcoming bulls back.
Major resistance remains 0.7030, even bulls conquered it for shortly.
Still bulls are on run as long as hold above the 50-day moving average. Bears
could kill with kindness the picture only if the pair near the support line at
0.7190.
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