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11 Jul 2018
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) |