The Swissy has gained on the Kiwi over the past couple of days, currently trading at 0.6746, just below the 0.6749 Support. The NZD’s chances of rebounding are based on the data releases later today, with its price index expected to stand at 0.3%, compared to 1.9% in the previous release, while a positive reading in Australia’s Retail Sales is also expected to benefit the Kiwi.
Key Support level is at 0.6734 (FE 127.2%), with Resistance, after the 0.6749 (FE 100%) level, standing at 0.6772 (FE 61.8%). The RSI is currently trading in the mid of its band, while both the MACD and Stochastics are pointing to the downside.
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Dr Nektarios Michail
Market Analyst
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