The New Zealand Dollar has pulled back to sit squarely atop familiar support in the 0.6591-0.6619 area after a tepid upswing against its US counterpart was rejected at trend line resistance. How prices will resolve themselves here is likely to follow on from the looming RBNZ monetary policy announcement. A daily close below support sets the stage to challenge the 0.65 figure. That is followed by October’s swing bottom at 0.6425 shortly thereafter, with breach below this threshold suggesting that the longer-term term down trend established from April 2018 has been re-engaged. Falling trend line resistance is now at ... (full story)