NZD - New Zealand dollar knocks on the 0.62, temporarily maintaining a high level

The New Zealand dollar hit a four-month high of $0.6208 against the U.S. dollar on Wednesday, but has since retreated slightly. The technical chart shows that the RSI and stochastic index have shown initial signs of decline, and it is estimated that the current upward momentum will be restrained. The supporting level looks at the 200-day moving average of 0.6080, which is also the upward trend line. If this level is broken, it will further confirm the New Zealand dollar's downward trend. The next level will be 0.60 and 0.5930. The subsequent support is expected to be at 0.6080. 0.5850 level. As for the resistance level, it is estimated to be at 0.62 and 0.6280 levels, with the mid-term key pointing to the 0.64.

Forecast range:
Resistance 0.6200 – 0.6280 – 0.6400
Support 0.6080 – 0.6000 – 0.5930 – 0.5850

Highlights of the week:
29/11 The Bank of New Zealand keeps interest rates unchanged at 5.5%, but warns that the rate hikes may not be over yet



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