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  • 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.

NZD/USD Chart, 15-Minute

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)