NZD - The New Zealand dollar significantly fell below the 0.60, extending the downward trend

The trend of the New Zealand dollar against the U.S. dollar can be seen from the technical chart. The RSI and stochastic index are still going down. In view of the psychological level of 0.60 falling as early as the beginning of the month, a new wave of decline is unfolding. The supporting level is expected to be 0.5860, and the key point is to reach the October's low of 0.5771, with the next level looking at 0.57 and 0.5550. The resistance level looks back at the 0.60. The greatest resistance is estimated to be 0.6050 and the 100-day moving average at 0.6120. The key resistance is focused on the 0.62 level.

Forecast range:
Resistance 0.6000 - 0.6050 - 0.6120 - 0.6200*
Support 0.5860 – 0.5771* – 0.5700 – 0.5550

Focus:
Wednesday: The Bank of New Zealand releases its semi-annual financial stability report (05:00)

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