NZD/USD Technical Analysis: Kiwi goes for bull reversal attempt after 2018 low’s test

NZD/USD has tested the former 2018 low at 0.6854 on Thursday as bulls are trying to form a double bottom.
NZD/USD bulls have broken to the upside from the wedge formation suggesting higher prices in the coming sessions.
Targets to the upside can be located near the 0.6900-0.6923 area figure and supply/demand level and then near 0.6960, June 1 low.

Flavio Tosti Independent Analyst

NZD/USD 15-minute chart

Spot rate: 0.6878
Relative change: 0.21%
High: 0.6883
Low: 0.6825

Trend: Neutral to bullish above 0.6854

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: 0.6854, former 2018 low
Support 2: 0.6816 December 1, 2017 low
Support 3: 0.6780, 2017 low

Author

Flavio Tosti

Independent Analyst

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