NZDUSD Risk Remains Lower On More Decline

Technical analysis of Forex market

NZDUSD with the pair closing lower the past week and extending that weakness during Monday trading today, further decline is envisaged. Resistance lies at the 0.6400 level where a break will turn attention to the 0.6450 level. A break of here will have to happen to create scope for a move higher towards the 0.6500 level. Further out, resistance resides at the 0.6550 level. Support stands at the 0.6300 level. Further down, the 0.6250 level comes in as the next downside target and then the 0.6200 level. All in all, NZDUSD faces further pullback threats in the days ahead.

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