NZDUSD (0.7363): The New Zealand dollar remains firmly supported above the 0.7333 level with the declines off the recent highs being only gradual. However, we expect that in the near term, NZDUSD could be seen pushing lower to test the support level at 0.7333 region. A rebound off this level could keep the bias positioned to the upside with further gains likely on a close above the previously established highs of 0.7430. To the downside, in the event that the support at 0.7333 fails, we can expect further declines to push the currency pair lower to the support level at 0.7160.
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