"NZD/USD failed slightly below the December and February highs at .6970, at .6939, before briefly dropping below the February and March lows at .6744/19 to its current April low at .6666," notes Commerzbank analyst Axel Rudolph.
"Provided that the January 9 low at .6692 and this week’s low at .6666 continue to hold on a daily chart closing basis, an overall neutral outlook can be maintained."
"Only a stronger bearish reversal and fall below the .6589 January low would put the .6500/.6424 September and October lows back on the cards."
"Minor resistance comes in between the 55 day moving average and the mid-January high at .6814/50. Resistance above .6939/70 is seen at the June high at .7061 and also at the March 2017 high at .7091."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.