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.

Joshua Gibson FXStreet

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)

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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