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Kiwi sidelined near 2020 lows, trades below 0.6350 level

  • NZD/USD is consolidating losses near the 2020 lows. 
  • The level to beat for buyers is the 0.6360 resistance.

 

NZD/USD daily chart

 

Kiwi/Dollar is trading in a bear trend while rebounding modestly from the 2020 lows as the spot is below the main SMAs. However, USD weakness could lead to profit-taking and help the kiwi to rebound especially on a break above the 0.6360 level which could lead to a potential advance towards the 0.6380 and 0.6412 levels. Support is seen near the 0.6300 figure and the 0.6250 level. 

 

Additional key levels

 

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