NZD/USD Technical Analysis: Kiwi flattening out as channel tightens at 0.70

• The NZD/USD has been trading tightly in a sub-50 pip range for the better part of a week.
• Lack of directional movement is breaking hourly indicators.
• Market volatility is contracting ahead of Trump-Kim summit for Tuesday.

NZD/USD Chart, 1-Hour

Spot rate: 0.7019
Relative change: Negligible
High: 0.7026
Low: 0.7015

Trend: Flat

Support 1: 0.7013 (lower channel boundary)
Support 2: 0.6960 (two-week low)
Support 3: 0.6851 (technical bottom, five-week low)

Resistance 1: 0.7053 (current week’s high, upper channel boundary)
Resistance 2: 0.7060 (two-week high)
Resistance 3: 0.7082 (R3 1-Day pivot)