The New Zealand Dollar (NZD) recovered off a 6-week low at 0.6055 against the US Dollar (USD) to bounce back towards the weekly close around the 0.6100 zone. Monday saw a fall back to 0.6070 as the cross reversed off bear trend channel resistance. Last week’s Presidential Election leader debate wasn’t pretty with markets digesting prospects of a Trump Presidency. US-China trade bought on risk off tone with the US targeting Chinese AI technology. Downside pressure on the kiwi remains.
Current Level: 0.6056
Support: 0.6040
Resistance: 0.6150
Last week’s range: 0.6056- 0.6139