The New Zealand dollar loses steam after a slowdown in inflation expectations. The price is at a crossroads after the recent rally came to a halt in the supply zone (0.6350), while a bullish MA cross on the daily chart may attract more buying interest. A rally above 0.6310 and the said hurdle could propel the kiwi to June’ high at 0.6560, alleviating the downward pressure in the medium-term. 0.6190 is a key support as the bulls look to consolidate their gains. Further down, 0.6120 is a critical floor to keep the current rebound intact.
