Technical analytics



The New Zealand currency remained on recovery-mode so far on Monday. NZD was trying to overcome the 0.6900 resistance area during the night and day trades, however, the EMA50 which lies in this region, blocked its way. The resistance stands at 0.6900, the support is at 0.6850.

We assume that the NZD/USD pair will remain in the downward channel in the near-term. Buyers will unlikely to extend the recovery move beyond the level 0.6950. We expect a selling pressure increase and a move to the 0.6850 level.

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