The pair has broken strong resistance at 0.6950 on the 4-hourly charts and is on track for further gains.
Momentum studies are , though Stochs at overbought suggests some caution.
Should the upside play out beyond June 2015 resistance located at 0.7011 test of 0.7200 (early 2015 lows) likely.
Markets look forward to the GTS price index along with the RBNZ's decision later this month for further clues on direction.
Immediate resistance is located at 0.70 and then at 0.7011 ahead of 0.7025. Supports are seen at 0.6950 ( ), 0.6924 (5-DMA) and 0.6898 (April 13th lows).
Good to long dips around 0.6985/90, SL: 0.6950, TP: 0.7010/0.7035
Pair finds strong channel top resistance at 0.7035.
Close above will see further upside.