Kiwi has been contained between 50 DMA and 100 DMA for three weeks. It may look a bit heavy with lower highs and lower lows but what it has been carving out is a falling wedge which is generally a bullish pattern.
Strong support in 0.6700 - 0.6750 band (February highs, 100 DMA) has been holding well with 0.6650 - 0.6670 (late March low, 200 DMA) the next important area. Initial resistance at 0.6775 is followed by 0.6825 (April - May support/resistance line, 50 DMA).
Strong support in 0.6700 - 0.6750 band (February highs, 100 DMA) has been holding well with 0.6650 - 0.6670 (late March low, 200 DMA) the next important area. Initial resistance at 0.6775 is followed by 0.6825 (April - May support/resistance line, 50 DMA).
