After a couple months of sideways and corrective price action, the NZD/USD has been sharply bullish throughout June. So far this month, the Kiwi rebounded from 0.84 to almost 0.88. The 0.8793 high this week is a new high on the year. The moving averages in the daily chart are in bullish alignment. The RSI has some room before traders consider it overbought. In the very short-term NZD/USD looks poised to challenge the 2011 high at 0.8842.
(nzdusd daily chart, 6/27)
The NZD/JPY has a similar technical development as NZD/USD. Following a 2-month correction pattern, the Kiwi-Yen rallied sharply in June, and broke above the correction pattern last week. This week, price tested the broken resistance and is respecting it as support, which suggests bullish continuation at least toward the 89.92 high on the year as well as the 90.00 psychological handle.
(nzdjpy daily chart, 6/27)
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