This week, the key event in the market will be RBNZ press conference (Thursday, 00:00 GMT 3), at which both a decision concerning interest rates and a quarterly comment on the monetary policy will be voiced. The current interest rate amounts to 3.5%. The increase of this indicator will provide the NZD with necessary suppot.
On the daily chart, 10 and 20 MA are below the price chart and directed downwards, which also confirms a downward trend. The MACD histogram is in the negative zone, which also indicates a negative trend. The support levels are at 0.7085 (last week's minimum) and 0.7022 (lowest value since 2010). The resistance levels are at 0.7184, 0.7272, 0.7313, 0.7564 (last month's peaks), 0.7743 (highest value since this January).
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