NZD/USD hit a high of 0.6947
The pair continues to inch higher today, buoyed by yesterday's news that Adrian Orr would be appointed the new RBNZ governor. That prompted a relief rally in the kiwi and we're seeing the pair continue to trend higher on the day.
The latest spike now is stalling right at the 28 Nov high of 0.6945. This is arguably the final test for the bulls looking at near-term levels. A break here should see buyers start to gain more momentum (the firm break above 0.6900 already showed much poise).
After this, the next key level to look at is 0.6980 - which is the 9 Nov high. If buyers can break through that, 0.7000 psychological level should not be a problem and the pair will see higher moves thereon.
But yeah, for now the 0.6945 and 0.6980 are levels to look out if the pair is to break towards the topside over the coming days.
