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NZD/USD Daily Technical Analysis | 24 October 2017

2017-10-24 06:53 am | Resource: Technical Analysis Section | No Views : 185

Our view of NZD/USD is neutral as the pair breached the minor descending trend line during today's Asian session, but without a break of 0.6989 there is no confirmation of the breach and the SMA 20 still supports the pair.

NZD/USD Daily Technical Analysis | 24 October 2017

Relative Strength Index 14 The bearish trend line crossed the 60-minute time frame during the Asian session this morning, which supports the breach that occurred on the pair.
It is expected that if NZD crosses against USD the level of 0.6989 might target 0.7024 while, at 0.6957, the pair might target the 0.6194 level.
Support: 0.6950- 0.6879- 0.6819
Resistance: 0.7007- 0.7111 - 0.7056
Trend: Down

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