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  • The Kiwi saw a bearish start to the week, but quickly leaned to the bullish  side to take out Friday’s high before smoothing out above the 0.6800 major level.
  • The pair remains constrained by consecutive lower highs on higher timeframes, and last week’s peak on H4 candles at 0.6839 will be critical for bulls to capture if they want to maintain a recovery run.
  • Kiwi bulls remain hopeful, and have continued to defend key lows near 0.6680, bolstering the NZD/USD from further declines.

NZD/USD Chart, 15-Minute

Spot rate:   0.6815
Relative change:   0.31%
High:   0.6824
Low:   0.6783
Trend:   Potential bearish pullback
Support 1:   0.6783 (current day low)
Support 2:   0.6755 (61.8% Fibo retracement level)
Support 3:   0.6712 (previous week low)
Resistance 1:   0.6839 (previous week high)
Resistance 2:   0.6858 (July high)
Resistance 3:   0.6920 (June 25th peak)