New Zealand Dollar May Retrace From Record Highs

  • Support: 0.7594
  • Resistance: 0.7740
  • Bullish trend is expected to survive as long as 0.8333 remains intact and rate speculation favors another RBNZ rate hike.
  • Should momentum not build into the kiwi?s break into its new highs, market forces may turn and traders could work in an easily won retracement.

[I]NZD (Daily Chart)[/I]


[I]Source: Bloomberg[/I]
See Daily Technicalsfor more detail.