Kiwi still above 0.72 mark

Although the ascending channel pattern has been broken, the New Zealand Dollar is holding its ground against the US Dollar. The has found support in the first monthly resistance at the 0.72 mark. However, the rate had already once passed the support only to be stopped by the 55-hour SMA. By the middle of the day's trading session, the currency pair had passed below the 55-hour SMA, as it made an attempt to force the Kiwi higher against the Buck and failed. Due to that reason, the situation is to be delicately watched. Either the pair will rebound against the monthly level of significance and surge back to 0.7223, or the currency exchange rate will decline and fall down to the combined support of the weekly R1 and 100-hour SMA at the 0.7185 level.