NZD/USD maintains positive tone

The reversal of New Zealand’s dollar from 0.0.6980 high has found support at 0.6955.The NZD/USD pair was able to maintain its near-term positive tone amid broad-based USD weakness. Therefore, the NZD/USD remains close to 0.7000 resistance area.
The New Zealand dollar’s rejection at the 0.7000 area, seen during Monday’s earlier US trading session, has been contained above 0.6950. The pair maintains its positive tone from 0.6860 lows seen last week.
The NZD progresses further against a softer USD. The overall softer tone observed on the US dollar has fueled New Zealand’s counterpart to extend its rally during Monday’s London session and crawl towards new one week highs at 0.6980.