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NZD/USD Daily Technical Analysis | 5 September 2017

2017-09-05 07:57 am | Resource: Technical Analysis Section | No Views : 172

NZD/USD is trading sideway trend within a classical bullish triangle pattern that resulted from the downside correction we mentioned in yesterday's report, and the SMA 20 is interfering with the price movement since the end of August to confirm the sideways trend.

NZD/USD Daily Technical Analysis | 5 September 2017

RSI 14 is trading within a classical bullish triangle pattern and is trading above 50 level to tempt all buyers from sellers but until the upper limits are breached or the lower border is breached we recommend that you continue and wait.
In the case of a breach of the New Zealand currency against the green green currency, the upper leg of the classic bullish triangle pattern is expected to target 0.7235, and in case of a break of 0.7158 it might target 0.7132.
Support: 0.7132 - 0.71110 - 0.7056
Resistance: 0.7174 - 0.7212 - 0.7293
Trend: neutral

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