NZD/USD Technical Analysis: Kiwi remains close to major resistance, but swing lows are digging for more

  • The Kiwi is continuing to trade into flat resistance as swing lows begin to steepen.
  • Markets roiled quickly on Wednesday after the US Fed raised interest rates 25 bps, but markets have recovered.
  • Hourly indicators remain close to their middles; sellers will be looking for a small bump higher before shorting again.

NZD/USD Chart, 1-Hour

Spot rate: 0.7030
Relative change: 0.17%
High: 0.7030
Low: 0.7013

Trend: Flat to bearish

Support 1: 0.6991 (38.2% 1-Month Fibonacci retracement level)
Support 2: 0.6974 (Wednesday low)
Support 3: 0.6880 (one-month low)

Resistance 1: 0.7060 (technical top; major resistance)
Resistance 2: 0.7088 (R3 1-Day pivot)
Resistance 3: 0.7157 (100% one-month Fibonacci expansion level)

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