NZDUSD (0.7272): The NZDUSD currency pair was seen forming a bottom with prices attempting to retrace the losses. In the short term, the reversal could see NZDUSD rising back to the price area of 0.7333 – 0.7280. With resistance most likely to be established here, NZDUSD could be seen either moving sideways in the short term or posting a reversal off this level. The downside target for NZDUSD remains at 0.7160 with the potential for further declines. This could push the kiwi dollar towards the next lower support level at 0.6943
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