Kiwi under pressure is extending downside after brief consolidation post RBNZ.
Upside in the pair is seen capped by 200-DMA at 80.12 which is stiff resistance. Upside only on break above.
The pair has broken below 100-DMA support at 79.66.
Momentum studies bearish, RSI and Stochs strongly bearish, more slumps on cards.
Immediate support seen at 78.81 (61.8% Fib retrace of 75.67 to 83.90 rally). Break below to see test of trendline support at 78.15.
Violation at trendline support to see more downside.
Support levels - 78.81 (61.8% Fib retrace of 75.67 to 83.90 rally), 78.15 (rising trendline), 77.98 (May 30 low)
Resistance levels - 79, 79.61 (nearly converged 5&100-DMA), 80.12 (200-DMA), 80.60 (Triple top Aug 15, 16, 17)
Good to go short on rallies around 79, SL: 79.70, TP: 78.20/ 78/ 77.45
Upside in the pair is seen capped by 200-DMA at 80.12 which is stiff resistance. Upside only on break above.
The pair has broken below 100-DMA support at 79.66.
Momentum studies bearish, RSI and Stochs strongly bearish, more slumps on cards.
Immediate support seen at 78.81 (61.8% Fib retrace of 75.67 to 83.90 rally). Break below to see test of trendline support at 78.15.
Violation at trendline support to see more downside.
Support levels - 78.81 (61.8% Fib retrace of 75.67 to 83.90 rally), 78.15 (rising trendline), 77.98 (May 30 low)
Resistance levels - 79, 79.61 (nearly converged 5&100-DMA), 80.12 (200-DMA), 80.60 (Triple top Aug 15, 16, 17)
Good to go short on rallies around 79, SL: 79.70, TP: 78.20/ 78/ 77.45