NZD – The New Zealand Dollar continues its downward trend, hitting a six-month low

As seen in the NZD/USD chart, the pair again encountered resistance near the 0.60 level in mid-last month and subsequently broke below its 200-day moving average. Therefore, further downward pressure is expected. The 0.58 level remains a key level, and caution is advised. A clear break below this area could see the NZD fall further. Major support levels are expected at 0.5730 and 0.5660, with the next key targets at 0.55 and 0.54. Nearest resistance is expected at the 25-day moving average at 0.5830. Focus will continue on the 0.60 level, with significant resistance expected at 0.6060 and 0.6120.

Forecast range:
Resistance: 0.5830-0.6000* – 0.6060 – 0.6120
Support: 0.5730 – 0.5660 – 0.5500 – 0.5400

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