NZD/USD TECHNICAL ANALYSIS: GRASPING FOR A FOOTHOLD ABOVE 0.6550



  • The Kiwi is popping in early Monday trading, but volumes remain light and markets are bracing for further trade war action, limiting bulls' potential.
  • The last swing high is also marking in a lower high, and bulls are facing down three weeks of steady declines.
  • Last week's bottom at 0.6500 is a major low for 2018, and the key handle could give way to further bottoms.
NZD/USD Chart, 1-Hour
Spot rate0.6555
Relative change0.12%
High0.6558
Low0.6538
  
TrendSideways to bearish
  
Support 10.6538 (current day low)
Support 20.6500 (major technical level)
Support 30.6400 (major technical level)
  
Resistance 10.6564 (200-hour EMA)
Resistance 20.6595 (previous week high)
Resistance 30.6616 (two-week high)






















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