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NZD/USD Technical Analysis: Kiwi slumps into 0.69, bullish opportunities are looking thin

  • Kiwi fails to develop a bounce from Tuesday's decline, hourly indicators are heading higher with little bullish momentum.
  • Economic calendar is fairly clear for Wednesday.
  • Overall market sentiment remains hesitant amidst trade war tensions.

NZD/USD Chart, 1-Hour

Spot rate:            0.6898
Relative change: Negligible
High:                   0.6900
Low:                    0.6888

Trend:                 Bearish

Support 1:           0.6884 (current week low) 
Support 2:           0.6850 (May bottom)
Support 3:           0.6771 (S3 1-week pivot)

Resistance 1:      0.6949 (38.2% Fibo retracement leve)
Resistance 2:      0.6980 (61.8% Fibo retracement level)
Resistance 3:      0.7060 (May high)

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