The RBNZ says NZD unjustifiably high and unsustainable and would be appropriate to lower cash rate if demands weakens.
Technically the pair’s minor resistance is around 0.7648 (200 day ) and any break above would extend gains till 0.7695 (cloud top)/0.7740 in short term.
On the downside NZD/USD is facing minor support around 0.7580 and break below will drag the pair further down till 0.7550/0.7520.
Indicator (1 hour chart)
(50) - Sell
(14) – Sell
It is good to sell on rallies around 0.7650 with stop around 0.7700 for the target of 0.7550.