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Kiwi ready for a larger retracement up

  • NZD/USD is bouncing from 2020 lows. 
  • The level to beat for bulls is the 0.6360 resistance.

 

NZD/USD daily chart

 

Kiwi/Dollar is trading in a downtrend while bouncing modestly from the 2020 lows as the market is below the main SMAs. However, the USD weakness can lead to some profit-taking and help the currency pair to bounce some more particularly on a break above the 0.6360 level which could lead to further appreciation towards the 0.6380 and 0.6412 level. Support is seen 0.6300 and 0.6250 level. 

 

 

Additional key levels

 

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