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NZD/USD technical analysis

  • Kiwi getting squeezed by bearish triangle break into support, ceiling from rising trendline likely to hold.
  • Short-term oscillators have struck oversold quickly; sellers will want to wait for a reload of short signals.
  • Recovery from May bottom at 0.6850 running out of steam.

NZD/USD, 1 Hour

Spot rate: 0.6910
Relative change: 0.20%
Trend: Turning Bearish

Support 1: 0.6890, multiple rejections from this point.
Support 2: 0.6870, May 17th swing low.
Support 3: 0.6850, May bottom.

Resistance 1: 0.6930, 50-SMA
Resistance 2: 0.6960, May 28th swing high.
Resistance 3: 0.6990, May 11th high touch.

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