BNZ - NZD/USD
Outlook: Sell a rally
ST Resistance: 0.8050 (ahead of 0.8145)
ST Support: 0.7930 (ahead of 0.7840)
The downtrend has become entrenched following the break through 0.8080 support and the close below the 200 d.m.a. The next support level at 0.7930 now looms as the immediate target.
ST Resistance: 0.7800 (ahead of 0.7835)
ST Support: 0.7730 (ahead of 0.7670)
Momentum factors have switched from neutral to positive, but 0.7800 resistance should cap the near-term topside.