Société Générale on the New Zealand dollar. Analysts at the bank say the recent interim NZD/USD low "near the lower limit of a multi-month down sloping channel at 0.5565" also coincides with a trend line they have from 2009.

And now an initial bounce is taking shape. SG looking at

  • the 50 DMA near 0.6010/0.6060 which is also the low of July is expected to be an important hurdle near-term
  • Failure to overcome this resistance can lead to continuation in downtrend towards last month trough of 0.5565 and 2020 levels of 0.5495/0.5470.

NZD/USD daily chart with the 50 day MA drawn on. You can change the indicators around at our free chart app,

can be found at this link

nzd usd 50 day MA 06 October 2022