The New Zealand dollar treads water as Q2 retail sales numbers disappoint. The pair is grinding the demand zone (0.6150) from a bullish breakout in mid-July. A bullish RSI divergence shows a deceleration in the sell-off and could pave the way for a rebound. A close above the support-turned-resistance at 0.6240 would act as a confirmation and put the kiwi back on track. A rally above 0.6310 may shift sentiment to the upside once again. On the downside, a fall below 0.6150 could send the price to the critical floor at 0.6070.
