- 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.
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) |