NZD/USD: The pair closed flat the past week leaving risk of a move lower on the cards. As long as the 0.6542/58 zone continues to hold as resistance, the pair looks to weaken. This is consistent with its medium term downtrend. Support lies at the 0.6400 level where a break will aim at the 0.6350 level. Further down, the 0.6300 level comes in as the next downside target.

Conversely, resistance resides at the 0.6500 level where a break will aim at the 0.6550 level. A break here will have to occur to create scope for a run at the 0.6600 level. Further out, resistance stands at the 0.6650 level. All in all, NZD/USD faces downside threats below its key resistance zone