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Trading news
31 May 2018
NZD/USD Technical Analysis: Kiwi looking to extend recovery into 0.70
- Hourly indicators are bearish, still leaning towards further downside.
- Kiwi's strong recovery yesterday could be overextended; risk appetite swings back into markets as Italy fears cool off.
- Previous resistance may have rolled over into critical support, allowing for further push higher.
NZD/USD chart, 1-Hour
Spot rate: 0.6984
Relative change: (-0.01%)
Trend: Bullish
Support 1: 0.6970 (resistance-turned-support)
Support 2: 0.6927 (61.8% 1-Day Fibonacci)
Support 3: 0.6882 (Wednesday swing low)
Resistance 1: 0.6992 (Wednesday high point)
Resistance 2: 0.7052 (May high)
Resistance 3: 0.7074 (1-Day R2 pivot)