New Zealand Dollar Downtrend to Continue

  • Support: 0.7529
  • Resistance: 0.7634 (61.8% Fib level)
  • The daily price bars discontinued touching the top Bollinger band on July 26, after RBNZ?s dovish rhetoric signaled that the fourth consecutive rate hike may be the last. A continuation of the downtrend is expected, as the NZDUSD pair continues to walk down the lower Bollinger band.

[I]NZDUSD (Daily Chart)


Prepared by DailyFX Research Team
Source: Bloomberg[/I]
[I]
See Daily Technicals for more details.[/I]