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The New Zealand Dollar has dropped to the bottom of monthly range support before the RBNZ monetary policy announcement. The central bank may trigger a breakout marking resumption of the dominant bearish price trend, defined by a series of lower highs and lows set from mid-April.
From here, a daily close below the 0.6688-0.6726 area opens the door for a test of the 38.2% Fibonacci expansion at 0.6573. Alternatively, a push above support-turned-resistance at 0.6851 would invalidate the near-term d…
From here, a daily close below the 0.6688-0.6726 area opens the door for a test of the 38.2% Fibonacci expansion at 0.6573. Alternatively, a push above support-turned-resistance at 0.6851 would invalidate the near-term d…