NZD/USD Technical Analysis: Kiwi softening on trade concerns, backing into 0.68

The Kiwi is continuing to mark in lower highs across multiple timeframes.
Trade concerns are sucking the week's risk appetite down the drain as the US seeks further China tariffs.
Bears will first have to crack the week's low nearby to get a bearish continuation underway.

Joshua Gibson FXStreet

NZD/USD Chart, 15-Minute

Spot rate:	0.6811
Relative change:	-0.35%
High:	0.6833
Low:	0.6806

Trend:	Bearish

Support 1:	0.6805 (previous day low; current week low)
Support 2:	0.6752 (61.8% Fibo retracement level)
Support 3:	0.6686 (previous week low)

Resistance 1:	0.6833 (current day high)
Resistance 2:	0.6858 (current week high)
Resistance 3:	0.6920 (two week 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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