Home NZD/USD Technical Analysis: Kiwi softening on trade concerns, backing into 0.68
FXStreet News

NZD/USD Technical Analysis: Kiwi softening on trade concerns, backing into 0.68

  • The Kiwi is continuing to mark in lower highs across multiple timeframes.
  • Trade concerns are sucking the week’s risk appetite down the drain as the US seeks further China tariffs.
  • Bears will first have to crack the week’s low nearby to get a bearish continuation underway.

NZD/USD Chart, 15-Minute

Spot rate:   0.6811
Relative change:   -0.35%
High:   0.6833
Low:   0.6806
   
Trend:   Bearish
   
Support 1:   0.6805 (previous day low; current week low)
Support 2:   0.6752 (61.8% Fibo retracement level)
Support 3:   0.6686 (previous week low)
   
Resistance 1:   0.6833 (current day high)
Resistance 2:   0.6858 (current week high)
Resistance 3:   0.6920 (two week high)

 

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.