New Zealand Finance Minister Bill English has given his strongest hint yet that he expects RBNZ to cut interest rates further in response to very low .
He said that New Zealand businesses had been resilient in the face of the global financial crisis, Canterbury earthquakes, higher interest rates than the rest of the developed world and a high New Zealand dollar .
Markets now confident that the RBNZ will ease again.
NZD/USD finds strong resistance on the upside from 0.6667 to 0.70 levels. Immediate support is seen at 0.6615 (cloud top and rising ).
Recommendation: Good to sell ralies around 0.6655/60, SL: 0.6725, TP: 0.6590/0.6550/0.65