NZD/USD hovering around 0.7000, consolidates gains

The NZD/USD pair soared yesterday after the interview of Donald Trump, that triggered a decline of the US dollar across the board. The rally of the pair continued during the Asian session and it peaked later, on American hours, at 0.7011. 

Despite reaching fresh highs, during the last hours, NZD/USD has been consolidating around 0.7000, a hundred pips above yesterday’s closing price. 

The kiwi is having the biggest daily gain versus the dollar since March 15 (when the Fed rose rates) and it managed to erase April’s losses.

Technical levels 

Price has risen above the 20-day moving average, that stands at 0.7000. If it extends to the upside, resistance levels might be seen at 0.710/15 (daily high), 0.7045 (Mar 15 high) and 0.7070/75 (Mar 20 & 22 high). On the downside, support now might be seen at 0.6995, 0.6970 (Apr 11 high) and 0.6915/20 (Apr 10 low).