Ella 
121
The New Zealand dollar fell to a low of 0.5810 yesterday and then rebounded to close above 0.5847 (+0.32%). The rebound from oversold conditions (and lackluster downside momentum) suggests further weakness in the NZD is unlikely. Today, the NZD is more likely to trade within a range, possibly between 0.5830 and 0.5880.
Next 1-3 weeks: Yesterday, the NZD fell to a low of 0.5810, its lowest level since November. Despite the decline, the downward trend did not improve much. However, there is still room for further weakness in the NZD, but any decline will face strong support at 0.5800. On the upside, if the New Zealand dollar breaks through 0.5895, it means that the weakness of the New Zealand dollar has stabilized.
