NZD/USD Technical Analysis: Kiwi looking to extend recovery into 0.70

• Hourly indicators are bearish, still leaning towards further downside.
• Kiwi's strong recovery yesterday could be overextended; risk appetite swings back into markets as Italy fears cool off.
• Previous resistance may have rolled over into critical support, allowing for further push higher.

NZD/USD chart, 1-Hour

Spot rate: 0.6984
Relative change: (-0.01%)

Trend: Bullish

Support 1: 0.6970 (resistance-turned-support)
Support 2: 0.6927 (61.8% 1-Day Fibonacci)
Support 3: 0.6882 (Wednesday swing low)

Resistance 1: 0.6992 (Wednesday high point)
Resistance 2: 0.7052 (May high)
Resistance 3: 0.7074 (1-Day R2 pivot)