NZD/USD Technical Analysis: Seems poised to extend the post-CPI up-move to 1-week tops

   •  A slightly upbeat NZ CPI report assisted the pair to build on the previous session's goodish rebound from over two-week lows and continue gaining traction for the second straight session.

   •  The positive momentum over the past 12-hours or so helped the pair to decisively breakthrough a one-week-old descending trend-channel and rally to the 0.6800 neighborhood or multi-day tops.

   •  Technical indicators on the 1-hourly chart are already pointing to slightly overbought conditions warranting some consolidation, especially after the latest leg of an upsurge of nearly 100-pips. 

   •  However, oscillators on 4-hourly/daily charts have just started gaining bullish traction, supporting prospects for some fresh technical buying and an extension of the intraday positive move.

NZD/USD 1-hourly chart