NZD/USD is rallying, thanks to growing risk appetite and news from China about the decision of the central bank to reduce a key lending benchmark. The decrease in US Treasury yields also put pressure on the dollar, pushing the pair to further growth.
technical picture:
The quote is above the middle line of the Bollinger indicator, above the SMA 5 and SMA 14. The relative strength index (RSI) is also above 50% and indicates a possible rebound, while the stochastic indicator is still on the decline .
Possible dynamics:
Growth and consolidation above 0.6410 may lead to a local rise to 0.6540.
