NZD/USD is limited to the downward channel

The NZD/USD pair, despite the general decline in the US currency, remains under the pressure from the risks and the soft monetary policy of the RBNZ, maintaining a two-month downward trend.

In the face of weakness of the American dollar NZD/USD reached the upper boundary of the ascending channel, which acts as a zone of formation of a turn.

Sales area is in the range of 0.6730-20.

With the resumption of decline is expected to test support levels: 0.6680 and 0.6660. Resistance is located at the levels of 0.6750 and 0.6780, fixing above which will cancel expectations of decline and indicate a slowdown in the downward trend.

Read also: “Stock Indices: Japanese Market”

Hanzenko Anton

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