NZD – The New Zealand dollar is sluggish at the 0.60, brewing adjustment pressure

The New Zealand dollar remains hovering around 0.60 against the US dollar. Although it has broken through the top of the recent month, it has not been able to expand a significant upward space, and the risk of adjustment has increased. The current resistance is at the 0.6050 level, and the greatest resistance is 0.6150 to 0.62 level; the mid-line target will refer to the high of 0.6378 in September last year. The supporting level is estimated at the 25-day moving average of 0.5980 and 0.5820, and the greatest support is expected to be 0.5750 and 0.5690.

Forecast range:
Resistance 0.6060 – 0.6150 – 0.6200 – 0.6378
Support 0.5980 – 0.5820 - 0.5750 – 0.5690

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