NZD/USD post-Brexit rebound capped by 0.7100

The NZD/USD pair extended its post-Brexit rebound into a second-day today, now consolidating the upside below 0.71 handle.

NZD/USD forms a small doji on daily sticks

Currently, the NZD/USD pair rises 0.52% to 0.7085, with the recovery faltering at 0.7097. The Kiwi eases-off highs, although remains on the front as the investors cheer risk-on market profile amid rebounding global equities and oil prices from the Brexit-induced sell-off.

The NZD/USD pair also remains supported on the back of revised labour stats; with a new methodology for the Household Labor Force Survey (HLFS) indicated that New Zealand's unemployment rate was actually 5.2% in the March quarter, not 5.7% as Statistics New Zealand had reported on May 4.

Meanwhile, the major will continue to track the broader market sentiment along with the USD moves, as all eyes remain on the US dataflow due later in the NA session.

NZD/USD Levels to consider

To the upside, the next resistance is located at 0.7112 (10-DMA), above which it could extend gains to 0.7159 (post-Brexit high). To the downside immediate support might be located at 0.7000 (psychological levels) and from there to at 0.6974 (post-Brexit low).