Another rebound stall ahead of .6930 resistance to maintain negative pressures.
The previous push through key long term support at .6870 reinforced a bearish bias for late June and into July after the RBNZ June rate cut bear gap (7081-.7200 on our charts) .
We see a downside bias for .6850 and .6812/05; break here aims for .6770.
But above .6930 opens risk up to .6982, which we would look to try to cap.
Short/ Intermediate-term Outlook - Downside Risks:
We see a negative tone with the bearish threat to .6562 and .6404.
What Changes This? Above .7272 eases bear risks; through .7396 signals a neutral tone, only shifting positive above .7564.
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