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Kiwi started the week on the back foot as it pulled back some 60 pips from the opening level before 0.65 level stopped the decline. After briefly trading above 0.66 on Friday, the pair fell back below both 50 and 100 DMA.
It looks well supported into 0.65 and if the level holds the pair will be on the way to 0.6750 and, perhaps, 0.70. If the level fails, a retest of 0.6350 - 0.6400 and possibly cycle-low at 0.6235 will become probable.
It looks well supported into 0.65 and if the level holds the pair will be on the way to 0.6750 and, perhaps, 0.70. If the level fails, a retest of 0.6350 - 0.6400 and possibly cycle-low at 0.6235 will become probable.
