The Kiwi is clinging to uptrend support within a broader rising wedge, with selling pressure reemerging at .5680 despite Monday’s late recovery.
A clean break below the uptrend could see bears target .5650, the low from Monday. A move through that level would put .5600 in focus as the next downside target.
Momentum signals reinforce the bearish case—RSI (14) and MACD continue to trend lower into negative territory, favouring selling rallies and downside breaks.
If the price were to fail beneath the uptrend again and reverse back above .5680, the bearish bias would be invalidated for now.
Good luck!
DS
A clean break below the uptrend could see bears target .5650, the low from Monday. A move through that level would put .5600 in focus as the next downside target.
Momentum signals reinforce the bearish case—RSI (14) and MACD continue to trend lower into negative territory, favouring selling rallies and downside breaks.
If the price were to fail beneath the uptrend again and reverse back above .5680, the bearish bias would be invalidated for now.
Good luck!
DS
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.