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  • The Kiwi is pushing back into the week’s lows as the NZD steps down against the US Dollar, which is getting a boost from a hawkish Fed chair Jerome Powell.
  • Firm bearish trend is still in place on higher timeframes, traders should keep bias shifted to the short side and wait to sell on pullbacks.
  • A failure for the bulls to break through the year’s low at 0.6686 could see a sharp reversal develop.

NZD/USD Chart, 15-Minute

Spot rate:   0.6770
Relative change:   -0.17%
High:   0.6785
Low:   0.6766
Trend:   Bearish
Support 1:   0.6753 (previous week low)
Support 2:   0.6705 (100.0% Fibo expansion level)  
Support 3:   0.6686 (2018 low; major technical bottom)
Resistance 1:   0.6785 (current day high)
Resistance 2:   0.6839 (current week high)
Resistance 3:   0.6858 (previous week high)