NZDUSD (0.7182): The New Zealand dollar was seen weakening since the RBNZ’s decision. Price action briefly tested the breached support level at 0.7333 where resistance has been established. The reversal off this level has seen price declining with the first support level at 0.7160 within reach. Expect to see NZDUSD potentially rebounding at this level but the gains could be limited within the resistance level of 0.7333 and the current support. We expect the longer term trend to point to the downside with NZDUSD likely to see further declines that could test the lower support at 0.6950.
: The New Zealand dollar was seen weakening since the RBNZ's decision. Price action briefly tested the breached support level at 0.7333 where resistance has been established. The reversal off this level has seen price declining with the first support level at 0.7160 within reach. Expect to see NZDUSD potentially rebounding at this level but the gains could be limited within the resistance level of 0.7333 and the current support. We expect the longer term trend to point to the downside with NZDUSD likely to see further declines that could test the lower support at 0.6950.){kind=link}