The New Zealand dollar consolidates recent gains as the market goes risk-on.
After giving up most of the recent gains, the kiwi found support at 0.6950. By clearing the psychological level of 0.7000 the bulls are sending the signal that there is still hope for a U-turn.
The RSI has again ventured into the overbought territory.
0.7095 remains a major hurdle ahead after a failed attempt. Its breach would make 0.7150 the next target. Below 0.7010 the pair could retest the base of the rebound at 0.6950.
