The New Zealand dollar rallies as Q3 inflation beats estimates.
After a few days of sideways action, the indecision ended with a break above 0.7020, the origin of the last sell-off. In turn, this set the kiwi on a bullish course.
Sellers would scramble to get out after their failed attempts to push lower. An overbought RSI may cause a temporary pullback.
0.7040 is the immediate support, then 0.6980 is the second line of defense in case of a deeper correction. A close above 0.7110 would lift the pair towards the previous peak at 0.7170.
