NZD – The New Zealand Dollar remains range-bound

NZD/USD: Current resistance is at 0.61, with higher resistance seen at 0.6150 and even 0.62. The medium-term target is the September high of 0.6378. Support is expected at the 250-day moving average of 0.59, with higher support expected at 0.5820 and 0.5750. As the exchange rate has been able to hold above the 250-day moving average for over a week, and with the RSI and Stochastics showing signs of a slight rebound, the NZD is currently expected to test the upside.

Forecast range:
Resistance: 0.6100 - 0.6150 - 0.6200 - 0.6378
Support: 0.5900 - 0.5820 - 0.5750

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