The New Zealand dollar is having its fair share of markets’ renewed affection for risk assets. A rebound from the psychological level of 0.7100, a two-month low has brought the pair to its first hurdle: 0.7270 where strong selling pressure could cap the rally.
The kiwi is gathering momentum near the rising trendline as the RSI falls back into the neutral zone. If buyers can overcome this resistance, an extended rally may push the price towards 0.7400.
A drop below 0.7160 though could lead to a retest of the daily support.
