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2 Aug 2018
NZD/USD Technical Analysis: Kiwi trapped near 0.68 as momentum slumps
- The Kiwi's action in July has seen the NZD/USD constrained under stiff resistance from the 0.6850 region with rising lows currently putting a floor under prices from 0.6760.
- This week's trading sees the pair cycling around 0.6800 as the Kiwi struggles to develop any momentum as the RBNZ looks set to remain in wait-and-see mode on rates.
NZD/USD Chart, 15-Minute
| Spot rate: | 0.6795 |
| Relate change: | 0.07% |
| High: | 0.6796 |
| Low: | 0.6788 |
| Trend: | Sideways |
| Support 1: | 0.6781 (current week low) |
| Support 2: | 0.6761 (previous week low) |
| Support 3: | 0.6712 (four-week low) |
| Resistance 1: | 0.6834 (current week high) |
| Resistance 2: | 0.6850 (previous week high) |
| Resistance 3: | 0.6894 (R2 weekly pivot) |