The New Zealand dollar falls as global growth concerns may delay RBNZ’s rate hike schedule.
The breakout below the critical daily support at 0.6920 reveals a lack of buying interest. Those who bought the dip have bailed out as the rebound failed to gain traction.
Bearish sentiment may push the pair towards 0.6820 once momentum comes back.
In the meantime, the RSI has recovered to the neutrality area. A limited bounce may lift the price to the key resistance at 0.6990 where sellers would be waiting to jump in.
