NZD/USD rises slightly after RBNZ rate hike, as rebound from 0.6215 short term bottom extends. Immediate focus is now on 0.6528 cluster resistance (38.2% retracement of 0.7033 to 0.6215 at 0.6527).
Sustained break of 0.6527/8 will raise the chance that whole corrective pattern from 0.7463 has completed at 0.6215. That came after drawing support from 61.8% retracement of 0.5467 to 0.7463 at 0.6229. In this case, further rally would be seen to 61.8% retracement of 0.7033 to 0.6215 at 0.6721.
However, rejection by 0.6527/8 will retain near term bearishness. Break of 0.6366 minor support will bring retest of 0.6215 low.
