- The Kiwi is looking primed for a bullish pullback, though the pair remains overall deeply in bearish territory, and near-term buyers run the risk of coming up against renewed selling power if broader market sentiment takes a turn for the worse.
- The Reserve Bank of New Zealand is expected this week, and the run-up to the central bank event is likely to suck NZD-backed volumes out of the Kiwi-Dollar pairing.
- July saw consolidation on Daily candles, and a lack of direction will be breaking technical indicators on various timeframes.
| Spot rate: | 0.6742 |
| Relative change: | Negligible |
| High: | 0.6746 |
| Low: | 0.6727 |
| Trend: | Bullish pullback |
| Support 1: | 0.6727 (current day low) |
| Support 2: | 0.6719 (previous week low) |
| Support 3: | 0.6686 (July low) |
| Resistance 1: | 0.6765 (Friday high) |
| Resistance 2: | 0.6790 (61.8% Fibo retracement level) |
| Resistance 3: | 0.6834 (previous week low) |
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