The new Zealand dollar
is currently trading around 0.64217 against the US dollar
. Looking at the weekly time frame its safe to say that this is the 5th week in which has been bearish
and, are now reaching our support level
on the monthly time frame. Dropping down a time frame into the daily we managed to reach the 0.68000 which was a 3rd touch of the descending trend line
and without any retracement a move to the downside. This pair will be effected fundamentally so be patient with this one.