NZD/USD Technical Analysis: Kiwi bulls keep NZD/USD afloat near 0.6900 level

NZD/USD gained almost 100 pips since Thursday after Kiwi reached a new 2018 low.
NZD/USD is consolidating its advance above the 100 and 200-period simple moving average on the 15-minute chart.
NZD/USD broke out above a wedge formation suggesting Kiwi is set to run higher in the coming sessions.

Flavio Tosti Independent Analyst

NZD/USD 15-minute chart

Spot rate: 0.6900
Relative change: 0.51%
High: 0.6915
Low: 0.6854

Trend: Bullish

Resistance 1: 0.6900-0.6923 area figure and supply/demand level
Resistance 2: 0.6960, June 1 low
Resistance 3 0.7000 figure

Support 1: 0.6870, 200-period SMA (15m)
Support 2: 0.6854, former 2018 low
Support 3: 0.6816 December 1, 2017 low

Author

Flavio Tosti

Independent Analyst

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