The New Zealand dollar grinds higher as the CPI improved from 1.4% to 1.5%. The kiwi’s rally has gained traction after offers around 0.7180 were lifted.
0.7270, a key resistance from the daily chart is the next hurdle. A bullish breakout may help the pair resume its thirteen-month-long rally. In a similar fashion to its Australian counterpart, an over short RSI could mean a brief consolidation in search of buying interest.
0.7120 is the first line of defense in case of a retracement.
