NZD/USD Technical Analysis: Kiwi nearing 7-month low ahead of RBNZ

• NZD/USD is breaking down to new 2018 lows as it broke below 0.6826 the former 2018 low.
• NZD/USD bearish momentum is strong as the market is trading below its 200-period simple moving average on the 15-minute chart.
• The Reserve Bank of New Zealand (RBNZ) is scheduled to release its interest rate statement at 21:00 GMT, the event can lead to high volatility in the exchange rate.  

NZD/USD 15-minute chart

Spot rate:                       0.6795
Relative change:           -0.93%      
High:                              0.6865
Low:                               0.6793

Trend:                             Bearish

Resistance 1: 0.6826 former 2018 low
Resistance 2: 0.6854, May 16 low
Resistance 3: 0.6900-0.6923 area figure and supply/demand level    

Support 1: 0.6780 November 17, 2017 low
Support 2: 0.6750 figure
Support 3: 0.6675 May 30, 2016 low