The New Zealand dollar falls due to subdued risk sentiment across the board. On the daily chart, the pair is still trying to hold on to this year’s gains above 0.6190, an important level to keep the momentum going. A drop below 0.6270 suggests that there is room on the downside as short-term sentiment stays cautious. Bargain hunting could be expected in the demand zone around 0.6190. The support-turned-resistance of 0.6310 is the first hurdle and only a close above 0.6390 would improve the mood.
