NZDUSD the pair closed lower on Monday opening the door for more decline. Support lies at the 0.6350 level where a break will turn attention to the 0.6300 level. A break of here will have to happen to create scope for a move higher towards the 0.6250 level. Further out, resistance resides at the 0.6200 level. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, resistance stands at the 0.6450 level. Further down, the 0.6500 level comes in as the next downside target and then the 0.6550 level. All in all, NZDUSD faces further downside threats.
