The kiwi is on its eleventh straight day of decline against the dollar
Depending on your broker, it could be nine but either way it doesn't rule out the fact that the kiwi is just continuing to bleed out further against the greenback right now.
The pair is a little lower on the day, but key levels to the downside still look the more likely to be tested as momentum sits with the sellers still.
The next level to the downside to look out for is the 61.8 retracement level 0.7032 with the 0.7000 also a key level of support. Expect bids to lie within the region with further support lining up at the 9 November high @ 0.6980.
As for upside levels, the first area of interest for offers will be the 3 January low @ 0.7074 and the 0.7100 figure level. But more should line up between the figure level and 0.7106 (100-hour MA). As long as price stays below the MA, near-term momentum remains bearish still.
I'm still short in the pair from last week here, and until the downside momentum stalls or reverses I don't see a reason for changing that conviction at the moment.
