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- NZD/USD has broken stiff trendline resistance at 0.7054 to hit highs of 0.7096 on the day.
- 5-DMA at 0.7095 is major resistance on the upside, breaks above will see upside resume.
- The pair largely ignored NZ government's unscheduled upward revision of the jobless rate.
- However, Kiwi bulls taking a breather after NZ Finance Minister warned the RBNZ has the room to cut rates if needed.
- The pair has paused upside and is currently trading around 0.7085 levels, intraday bias is higher.
- Upside in the pair intact till price action holds above 20-DMA support at 0.7043.
- Our previous call (http://www.econotimes.com/FxWirePro-NZD-USD-capped-below-stiff-resistance-at-07054-further-upside-only-on-break-above-228230) is progressing.
Recommend holding for targets.
