NZD / USD in the medium term

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
The currency pair broke through the resistance level of 0.7420 and reached a strong resistance level at 0.7550, which was slightly exceeded. An attempt to break through this resistance should not go. The increases were initiated by the occurrence of Governor of the Bank of New Zealand, who hinted that the probability of interest rate hikes in June. An additional stimulus for growth, were Wednesday's US data, which proved to be weak and drifting during hike in US interest rates. Currently kiwi is pretty much sold out, which should support the supply side. It should also be noted that the pair is in a downward trend and further falls in prices of dairy products and weak economic data from New Zealand and China, should have a negative impact on the currency. (Nearby important data is already PPI May 19). The market has before him a vision of cuts in interest rates in the second half of the year (June 11 ??), which in the medium term should lead to clearer declines. The objectives of the moment should be support levels 0.7420 then 0.7319 and 0.72 which is the goal of supply.
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