Chart - Courtesy Trading View
NZD/USD was trading 0.14% higher on the day at 0.6845 at around 10:40 GMT.
The pair is extending retrace above 110-EMA, scope for further upside.
Price action is above daily cloud and Chikou span is biased higher.
MACD and ADX support further upside in the pair. Momentum is with the bulls.
Hopes for a diplomatic solution to Ukraine-Russia war remained supportive of the risk-on mood, undermining the safe-haven US dollar.
Focus now on US CPI for a fresh impetus. CPI and core CPI are expected to reach fresh 40-year highs at 7.9% and 6.4%.
Technical indicators support gains in the pair. Weakness only below 110-EMA. Resumption of upside will see test of 200-DMA.
