NZDUSD reached a high of 0.7160 rebounds nearly 50.0 of the fib reaction (0.7560-0.6780 fall). Finally, the cross has entered the overbought zone.
Stiff resistance from 50.0 reaction seems at 0.7170. The RSI stands at 73. We believe in the near term; the cross offers limited upside risk. Ahead of today’s NFP data the cross has a resistance zone seems between 0.7170-0.7200.