• New Zealand dollar received a lift after the Chinese surveys, edged higher to hit multi week highs at 0.6428
  
  
• Gains were however capped at highs, the pair has slipped lower to currently trade at 0.6408, close the 0.64 handle
  
  
• Stochs on 4 hourly charts are now at oversold and are showing a bearish crossover, RSI is also biased lower
  
  
• Long-term outlook is negative with economists expecting the Reserve Bank of New Zealand to cut rates again to stimulate a sluggish economy
  
  
• The pair has remained remarkably stable in the past month, having traded in a narrow range of 0.6244 to 0.6455
  
  
• On the day, the pair sees immediate resistance at 0.6428 (session highs) ahead of major resistance at 0.6455 (channel top)
  
  
• Support on the downside are located at 0.6385 (day's low), break below could see the pair at 0.6340 levels
  
  

Recommendation: Good to sell rallies around 0.6410, SL: 0.6440, TP: 0.6365