Forex News NZD/USD "definitely has a downward bias" after RBNZ rate cut but further big moves to downside may be more difficult as a lot of market "is short Kiwi anyway", says HSBC dealer Daniel Brdanovic; "I think it's going to depend on what the U.S. dollar does overnight. We've had two days of the big dollar rallying, if that continues then sure, the Kiwi will be lower." Otherwise, expects market to play Kiwi vs EUR, AUD, GBP today. Puts initial resistance for NZD/USD at 0.7455, then 0.7485, with support target around 0.7390, which he thinks could be reached overnight. NZD/USD last 0.7441.
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