- 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.
|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)|