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24 Jul 2018
NZD/USD Technical Analysis: Still consolidating near multi-month lows
- The pair is moving sideways after finding resistance at a downtrend line from July highs at 0.6815/20: a break higher could lead to further gains.
- In the short-term, the bullish tone eased and a break below 0.6785 would intensify the negative momentum ahead of the next sessions.
- On a wider perspective, the pair continues to consolidate near multi-month lows: a daily close significantly above 0.6820 would add support for a more sustainable recovery.
NZD/USD 15-minute chart
Spot rate: 0.6794
High: 0.6817
Low: 0.6767
Trend: Neutral
Resistance 1: 0.6815 (downtrend line)
Resistance 2: 0.6840
Resistance 3: 0.6860
Support 1: 0.6785
Support 2: 0.6765
Support 3: 0.6715