Start of this week sees us intrigued by the short term chart of the Kiwi and could be presenting us with an early week trade setup. The 1hr chart below shows the kiwi closing out last week at a big support zone after making a series of lower highs and lower lows. Undoubtedly the longer-term trend is to the upside and the kiwi is trading nicely within the confines of its up-trending channel. Keep an eye on it at the start of trading because any further weakness will see the kiwi break decent short term support and stops may be triggered. Failure to break lower will likely see the continuum of the uptrend and new highs very likely.
NZDUSD – 1hr Chart: At an inflection point.