The NZD has been among the top performers so far this week
The kiwi only lags behind the Canadian dollar in terms of performance against the major bloc so far this week. While the latter owes a lot to progress in NAFTA talks, the kiwi's gains are more "pure" have you will.
Against the dollar, the kiwi is now treading higher ground - breaking the trendline resistance highlighted here earlier and is set to test the March highs of 0.7359.
But the spike in the kiwi this week also has to do with renewed selling in AUD/NZD.
The pair failed to break above the support-turned-resistance level @ 1.0657 and from there the selling continued to break below the 76.4/23.6 retracement level on the daily chart.
Currently, the pair is testing the resistance-turned-support level of 1.0551 from the highs posted in June last year. At the close yesterday, the support level held - but should more selling in the pair continue, it's a quick way down to 1.0400.
And that will allow the kiwi to sustain a momentum in a bid to test the year's highs against the dollar @ 0.7438.
