NZD/USD chart - Trading View
NZD/USD was trading 0.13% lower on the day at 0.6548 at around 04:55 GMT.
The pair is extending sideways grind along 50-DMA support, decisive break below will see weakness.
The pair is on a downward streak for the 4th straight week and technical indicators on the daily charts support downside.
A dovish Reserve Bank of New Zealand last week keeps downside pressure on the kiwi. Price action is holding support at weekly cloud and breach below will drag prices lower.
Price action has broken below major trendline support and 'bearish divergence' adds to the bearish bias.
Break below 50-DMA eyes 23.6% Fib at 0.6421. Further weakness will see dip till 200-DMA at 0.6366.
