NZDUSD: With the pair seen facing downside pressure, we could see more weakness towards its broken resistance turned support located at 0.6707/37 zone. Support lies at the 0.6750 level where a break will turn attention to the 0.6700 level. Further down, the 0.6650 level comes in as the next downside target. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, resistance resides at the 0.6850 level where a break will aim at the 0.6900 level. A break of here will have to occur to create scope for a run at the 0.6950 level. Further out, resistance stands at the 0.7000 level. Its daily RSI is bullish and pointing higher suggesting further upside pressure. All in all, NZDUSD remains biased to the downside nearer term on corrective pullback
25th April 2016
NZDUSD Remains Under Pressure, Closes In On 0.6707/37 Region
