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26 Jul 2018
NZD/USD Technical Analysis: Kiwi stepping towards new highs for July
- Kiwi on the rise as risk assets find favor against the US Dollar as risk appetite swings forward on positive trade headlines from the US.
- July's peak at 0.6860 is the key barrier keeping bulls under pressure, and a break higher will leave NZD bulls free to make a run for 0.70 as long as markets remain optimistic, but hazards abound for a return to risk aversion.
NZD/USD Chart, 15-Minute
| Spot rate: | 0.6844 |
| Relative change: | 0.13% |
| High: | 0.6849 |
| Low: | 0.6827 |
| Trend: | Bullish |
| Support 1: | 0.6827 (current day low) |
| Support 2: | 0.6784 (previous day low) |
| Support 3: | 0.6764 (61.8% Fibo retracement level) |
| Resistance 1: | 0.6858 (July 9th peak) |
| Resistance 2: | 0.6920 (June 25th swing high) |
| Resistance 3: | 0.7000 (major psychological level) |