The pair is trading at 0.7121 as the NZD is now the leader of the major currency bloc
NZD/USD looks poised to post its 8th straight day of gains today, as the pair took out resistance levels just above the 0.7100 level.
Looking at the daily chart, the pair was closing in on the 50.0 retracement level @ 0.7107 and the 200-day MA at 0.7106 - but it appears that isn't enough to hold the kiwi back for now. Dollar weakness remains the major theme in trading today, as even GBP/USD rose to its highest level in three weeks earlier.
The next level to watch out for on the upside is the 61.8 retracement level @ 0.7184. But again, as I mentioned this is all happening during a time where markets are seeing thin liquidity - so the move could just as easily reverse before that.
The NZD gains today have been backed by further AUD/NZD selling as it breaks away from the December trendline support:
