NZD/USD: The New Zealand dollar declined to a near 3-week low, as the Reserve Bank of New Zealand is likely to cut its rates to 1.25 percent in August, and to 1 percent by February next year. The Kiwi trades 0.05 percent down at 0.6629, having touched a low of 0.6626 earlier, its lowest level July 10. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6664 (23.6% retracement of 0.6790 and 0.6626), a break above could take it near 0.6708 (50% retracement). On the downside, support is seen at 0.6602 (July 5 Low), a break below could drag it below 0.6565 (July 10 Low).
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