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NZD/USD Daily Technical Analysis | 31 August 2017

2017-08-31 11:08 am | Resource: Technical Analysis section | No Views : 173

NZD/USD is trading in a down trend and the 20 SMA is leaning down to confirm this.

NZD/USD Daily Technical Analysis | 31 August 2017

RSI 14 breaks the bullish trend line and is currently trading below the bearish trend line and trading below the oversold level to confirm the sellers' control of the pair. The ADX index crosses negatively between the red and green index and the main index is trading above 25 level indicating the strength of the downside movement
It is expected that if the New Zealand currency crosses against the US currency, the level of 0.7132 might target 0.71110, and if the pair breached 0.7174, it might target 0.7212.
Support: 0.7132 - 0.71110 - 0.7056
Resistance: 0.7174 - 0.7212 - 0.7293
Trend: Down


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