NZD/USD bearish pressure eyes 0.6502 zone as it retains its broader medium term downtrend. This development leaves it vulnerable beyond the above support. Support lies at the 0.6450 level. Further down, the 0.6400 level comes in as the next downside target. Its daily RSI is bearish and pointing lower suggesting further weakness. On the upside, resistance resides at the 0.6600 level where a break will turn attention to the 0.6650 level. A break of here will have to occur to create scope for a move towards the 0.6700 level. Further out, resistance stands at the 0.6750 level. All in all, NZD/USD faces further downside pressure medium term.
Leave A Comment