The Kiwi proceeding its downward move against the US dollar. and as indicators show this weakness in both mid and short terms, the outlook of this market remains bearish as long as the price is below the 200 EMA on the 4 hours time frame at 0.7240.
Notice that the current price is testing an important support of the 31st Aug at 0.7130. with that being said, it will be hard to sell at this level because we may see a certain action from the buyers. However, it will be a great opportunity to sell if the market rallies toward 0.7130 and shows some weakness sign. on the other hand, the alternative scenario needs a break below 0.7130 on the daily chart to open the possibilities to drive this market to its next station at 0.7050.
Notice that the current price is testing an important support of the 31st Aug at 0.7130. with that being said, it will be hard to sell at this level because we may see a certain action from the buyers. However, it will be a great opportunity to sell if the market rallies toward 0.7130 and shows some weakness sign. on the other hand, the alternative scenario needs a break below 0.7130 on the daily chart to open the possibilities to drive this market to its next station at 0.7050.