The Kiwi is a little lower in morning trade, breaking some short-term support. Lower dairy prices at auction being cited as a potential catalyst (h/t Mungo for the article): Dairy prices dropped nearly 9 per cent at the latest global dairy auction overnight
A look at the 4-hour candle chart:
Approaching support on this timeframe around 0.8600 initially then 0.8500 and 0.8550.
Resistance will be around 0.8640 initially then at the recent highs.
Buy orders 0.8500, 0.8550, 0.8570 and 0.8600. sellers (small) around 0.8650 then better amounts 0.8690/00
Thoughts, as always, welcome:
