NZD New Zealand Dollar - New Zealand Dollar Currently Stabilizing

Regarding the NZD/USD trend, in terms of technical analysis, the New Zealand dollar's two key lows this year were at 0.5850 in April and 0.5849 in August. Therefore, it is important to note that if the New Zealand dollar clearly breaks below this range in the short term, it would indicate a more definitive downward trend testing lower levels. The next support levels are expected at 0.58, down to last October's low of 0.5771, with stronger support around the 0.56 level. To the upside, attention should first be paid to the vicinity of 0.5930, which marks the 23.6% retracement level of the recent downward trend; further extensions to 38.2% and 50% are at 0.6015 and 0.6085, with the 61.8% level at 0.6155.

Forecast Range:
Resistance 0.5930 - 0.6015 - 0.6085 - 0.6155
Support 0.5800 - 0.5771 - 0.5600

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