NZDUSD is looking weaker and falling under the Fibonacci %23.6 resistance. RBNZ’s cautious tone is causing downward pressures to rise. The downswing is likely to continue to near the lower line of the trend channel and %38.2 level. But in the medium-term, if the price holds above 0.67, this bearish trend channel is likely to be a bullish flag rather than a bearish formation. For that to happen, the price must break the 200-day moving average and the upper line of the channel.
