New Zealand dollar probes to find a bottom but support is tough to find

This is a nightmare chart for the bulls.

NZD/USD cracked lower on a dovish central bank Central bank A central bank is a financial institution that manages a country's monetary policy, and that often also includes issuing and/or monitoring the currency and regulating the money supply. Central banks also typically act as a lender of last resort to banks in times of financial crisis, and may also supervise and regulate banks and other financial institutions. Examples of central banks include the Federal Reserve in the United States, the European Central Bank, and the Bank of Japan.The chief task A central bank is a financial institution that manages a country's monetary policy, and that often also includes issuing and/or monitoring the currency and regulating the money supply. Central banks also typically act as a lender of last resort to banks in times of financial crisis, and may also supervise and regulate banks and other financial institutions. Examples of central banks include the Federal Reserve in the United States, the European Central Bank, and the Bank of Japan.The chief task Read this Term shift and has busted through a significant zone of support with no obvious lifelines below.

The drop sets up a fall as deep as 0.5500, where the New Zealand dollar bottomed in October. An initial target might be 0.5800, which is the measured target from the double top in April/May.

What I'll want to see to confirm it is the kiwi Kiwi When we write about the 'kiwi' we're not talking about the fruit or the bird. The "kiwi" is a nickname for the New Zealand dollar (NZD), the official currency of New Zealand. The name "kiwi" is used as the New Zealand dollar is often associated with the kiwi bird, which is a national symbol of New Zealand. The kiwi is considered as a commodity currency, as it's heavily influenced by the price of commodities, especially dairy and agriculture products which are the main exports of the country. Gen When we write about the 'kiwi' we're not talking about the fruit or the bird. The "kiwi" is a nickname for the New Zealand dollar (NZD), the official currency of New Zealand. The name "kiwi" is used as the New Zealand dollar is often associated with the kiwi bird, which is a national symbol of New Zealand. The kiwi is considered as a commodity currency, as it's heavily influenced by the price of commodities, especially dairy and agriculture products which are the main exports of the country. Gen Read this Term falling on days when risk assets are rebounding. Some of that is in the mix today but it's a skewed picture with AI carrying so much of the weight and US Treasury yields surging on the debt ceiling. If there's a close below the 0.6080 level on Friday, it would clear the way for the shorts to pile in.