• The New Zealand dollar rose to hit seven-week highs on Wednesday boosted by a solid rise in dairy price
  
  
• GlobalDairyTrade Price Index rose 9.9% at the latest Fonterra auction, climbing of the fourth event in a row
  
  
• The kiwi had already gained nearly 1 percent on Tuesday and last stood at 0.6543, momentum is bullish and 0.6685 (Aug 28 highs) could be in sight
  
  
• Price action has edged above the cloud, daily Stochs and RSI are at overbought could see some unwinding
  
  
• Long term trend is bearish, but breaks above 100 DMA at 0.6663 could tilt momentum in favour of bulls for a short term
  
  
• The pair is currently trading at 0.6589, with immediate resistance at 0.6640 (Aug 13 highs) and support at 0.6562 (Could base)

Resistance Levels:

R1: 0.6640 (Aug 13 highs)

R2: 0.6645 (Aug 20 highs)

R3: 0.6663 (100 DMA)

Support Levels:

S1: 0.6562 (Could base)

S2: 0.6534 (day's low)

S3: 0.6494 (55EMA)