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4 Sep 2018
NZD/USD Technical Analysis: recovery from year's lows gassing out
- The Kiwi remains trapped underneath pressure from USD buyers.
- Bullish recovery from last week's major 2018 low is running into resistance early, indicating low bullish interest.
- A thin showing on the economic calendar for the NZD this week leaves directional bias in the hands of Dollar traders.
NZD/USD Chart, 15-Minute
| Spot rate: | 0.6601 |
| Relative change: | 0.04% |
| High: | 0.6606 |
| Low: | 0.6586 |
| Trend: | Bearish |
| Support 1: | 0.6586 (current week low) |
| Support 2: | 0.6544 (major technical bottom) |
| Support 3: | 0.6500 (major round figure) |
| Resistance 1: | 0.6621 (previous day high) |
| Resistance 2: | 0.6673 (61.8% one-week Fibo retracement level) |
| Resistance 3: | 0.6727 (previous week high) |