Above is the daily chart of New Zealand Dollor. Kiwi has been sliding along the red channel for a few months.
Three days ago, just after the currency has touched the strong support, it bounced and moved upwards. By the red channel, the resistance is at around 0.744.
Therefore, I would expect a drop after touching 0.744.
If NZD falls below 0.738, it would only be supported at around 0.70. Especially when BNZ announced a lower interest rate.
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