NZDUSD (0.7010): The New Zealand dollar was seen trading weaker yesterday. However, the declines were limited to the initial support level at 0.6891. Following the decline to this support, price action has posted a reversal. A close above the previous high is required in order for NZDUSD to extend the gains towards 0.7062 level of resistance. However, in the event of a failure to post fresh highs, NZDUSD could be at risk of breaking the support level. This could see price declining towards the next lower support at 0.6912.
