NZD New Zealand Dollar – New Zealand dollar regroups to test 0.60 mark again

The New Zealand dollar/US dollar trend approached the 0.60 mark again last week. The exchange rate had failed to break through in the past two weeks, but as the RSI and stochastic index have risen again on the chart, it is expected that the New Zealand dollar will stabilize again. The current resistance will also focus on the 0.60 mark, with greater resistance seen at 0.6150 to 0.62 levels; the mid-term target will refer to last September’s high of 0.6378. The support levels are estimated at 0.59 and 0.5820, and the larger support levels are expected to be 0.5750 and 0.5690.

Estimated range:
Resistance 0.6000** – 0.6150 – 0.6200 – 0.6378
Support 0.5900 – 0.5820 - 0.5755 – 0.5690 – 0.5600

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