- The Kiwi is popping in early Monday trading, but volumes remain light and markets are bracing for further trade war action, limiting bulls’ potential.
- The last swing high is also marking in a lower high, and bulls are facing down three weeks of steady declines.
- Last week’s bottom at 0.6500 is a major low for 2018, and the key handle could give way to further bottoms.
Spot rate | 0.6555 |
Relative change | 0.12% |
High | 0.6558 |
Low | 0.6538 |
Trend | Sideways to bearish |
Support 1 | 0.6538 (current day low) |
Support 2 | 0.6500 (major technical level) |
Support 3 | 0.6400 (major technical level) |
Resistance 1 | 0.6564 (200-hour EMA) |
Resistance 2 | 0.6595 (previous week high) |
Resistance 3 | 0.6616 (two-week high) |