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  • Declining trendline is capping swing highs as the Kiwi steps down amid broader market sentiment retracting.
  • US-CHina trade war fears are becoming the market narrative for the week ahead of the RBNZ’s showing later on.
  • Intraday prices are being supported by the 38.2% Fibo retracement level, a hard break will confirm the day’s downtrend.

NZD/USD Chart, 15-Minute

Spot rate:   0.6892
Relative change:   -0.02%
High:   0.6899
Low:   0.6882
   
Trend:   Bearish
   
Support 1:   0.6882 (current day low; current week low)
Support 2:   0.6862 (61.8% one-week Fibo level)
Support 3:   0.6825 (one week low)
   
Resistance 1:   0.6899 (current day high)
Resistance 2:   0.6921 (one week high)
Resistance 3:   0.7000 (major level; R3 daily pivot)