NZD/USD Technical Analysis: Kiwi bears looking at 0.6890 ahead of RBNZ

NZD/USD daily

• NZD/USD is trading in a bull trend above its main simple moving averages (SMAs).
• The Reserve Bank of New Zealand will release its interest rate decision at 1.00 am GMT this Wednesday. The event can lead to high volatilty on NZD-related pairs.

NZD/USD 4-hour chart

• NZD/USD is trading above its main SMAs suggesting a bullish bias in the medium-term.

NZD/USD 30-minute chart

• NZD/USD is trading between its 50 and 100 SMA suggesting a consolidation in the short-term.
• 0.6920 is a strong resistance. If breached 0.6970 comes into play.
• Looking down, 0.6890 and 0.6860 are seen as immediate supports following the RBNZ.

Additional key levels