Signs of ebbing upside momentum preceded a turn lower for the New Zealand Dollar against its US namesake, as expected. The currency pair has now declined for five consecutive sessions, making for the longest losing streak in over three months. A look at shorter-term positioning on the four-hour chart shows prices consolidating losses in the 0.6726-67 area. Still, seeing clear follow-through on the break of rising trend support guiding the upswing from lows from set at the beginning of the year suggests the longer-term down trend has resumed. From here, a move below the 0.6726 opens the door for a test of the next ... (full story)