NZD - NZD is in a consolidation phase

NZD is in a consolidation phase

In terms of NZD/USD, in terms of technical trends, the chart shows that the MACD indicator has broken the signal line, and it is expected that NZD can still maintain its upward trend. If calculated based on the cumulative decline since February, the rebounds of 50% and 61.8% are at the levels of 0.6320 and 0.6370. Greatest resistance will refer to the February high of 0.6536. As for the nearest support is expected to be 0.6140, the key level will be the psychological barrier of 0.60 and even 0.5890.

This week's news:
New Zealand's first-quarter consumer confidence index was 77.7

Estimated volatility:
Resistance 0.6320 – 0.6370 - 0.6536
Support 0.6140 - 0.6000* - 0.5890

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