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26 Jun 2018
NZD/USD Technical Analysis: Kiwi backing away from 0.69
- Declining trendline is capping swing highs as the Kiwi steps down amid broader market sentiment retracting.
- US-CHina trade war fears are becoming the market narrative for the week ahead of the RBNZ's showing later on.
- Intraday prices are being supported by the 38.2% Fibo retracement level, a hard break will confirm the day's downtrend.
NZD/USD Chart, 15-Minute
| Spot rate: | 0.6892 |
| Relative change: | -0.02% |
| High: | 0.6899 |
| Low: | 0.6882 |
| Trend: | Bearish |
| Support 1: | 0.6882 (current day low; current week low) |
| Support 2: | 0.6862 (61.8% one-week Fibo level) |
| Support 3: | 0.6825 (one week low) |
| Resistance 1: | 0.6899 (current day high) |
| Resistance 2: | 0.6921 (one week high) |
| Resistance 3: | 0.7000 (major level; R3 daily pivot) |