#NZDUSD @ 0.62352 : Risks remain skewed to the downside for now – OCBC
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NZD/USD is expected to continue its downside movement, in the opinion of economists at OCBC Bank.
“Bearish momentum on daily chart intact while RSI shows signs of falling. Risks remain skewed to the downside for now.”
“Support at 0.6170/85 levels (100, 200-DMAs), 0.6130 (38.2% fibo retracement of October low to Jan-Feb double top) and 0.6010 (50% fibo).”
“Resistance at 0.6280 (23.6% fibo), 0.6360 (21, 50-DMAs).”
See – RBNZ Preview: Forecasts from six major banks, 50 bps seems appropriate
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