The New Zealand dollar rose back after the Q2 retail sales beat expectations.
The RSI divergence was a giveaway that the bearish momentum was losing steam. The confirmation came in the form of a bullish MA cross and a breakout above 0.6860. Buyers may see sellers taking profit as an opportunity to rack up stakes.
0.6900 is a key resistance ahead as its breach may build the case for a reversal. Then the psychological level of 0.7000 would be within reach.
However, a fall below 0.6820 may send the price towards 0.6700.
