NZD/USD: technical picture
NZD/USD is declining for the second day. The pair failed to break above $0.8100, formed an evening star pattern on the daily chart and slipped below $0.8000.
Support for New Zealand’s currency lies at $0.7985, $0.7960, $0.7920 and $0.7900. The most important level here is $07960 (bottom of the weekly Ichimoku Cloud). A break below this point will make kiwi vulnerable for a decline to $0.7895 and $0.7800.
Analysts at Westpac believe that NZD/USD may test June peak at $0.8135 this week (also a top of the daily Cloud). Resistance is at $0.8010, $8025, $0.8055 and $0.8100.