NZD New Zealand Dollar – Risk sentiment is restrained, and the New Zealand dollar tends to adjust in the short term

As for the trend of New Zealand dollar against the US dollar, the technical chart shows that the RSI and stochastic index turned back and fell, so that the 10-day moving average just broke below the 25-day moving average to form a bearish cross. In particular, the exchange rate is constrained by the 100-day moving average, so the New Zealand dollar may see a slight short-term adjustment. The current resistance is expected to be the 100-day average of 0.5760, and the closer resistance will be seen at the 250-day average of 0.5950 or even the 0.60 mark. The support level looks back at the 25-day moving average of 0.5680 and 0.56 levels. The next level is estimated to be 0.55 or even the March 2020 low of 0.5468.

Estimated range:
Resistance 0.5760 - 0.5950 – 0.6000*
Support 0.5680 – 0.5600- 0.5500* – 0.5468

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