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NZD/USD Daily Technical Analysis | 30 October 2017

2017-10-30 11:42 am | Resource: Technical Analysis Section | No Views : 169

NZD/USD breached the downtrend line on the hourly interval during last week's trading and the pair continues to trade above the trendline without confirming its price break. The 20 SMA is interfering with the pair's movement and therefore our view is neutral.

NZD/USD Daily Technical Analysis | 30 October 2017

RSI 14 is trading in a bullish direction and below the 50 level indicating the weakness of bulls in the pair.
It is expected that if NZD crosses against USD, the level of 0.6879 might target 0.6950 on the other side at 0.6819, the pair may target the 0.6751 level, and we do not recommend trading the pair until a scenario occurs from the two mentioned.
Support: 0.6819 - 0.6751 - 0.6704
Resistance: 0.6879- 0.6950- 0.7007
Trend: neutral


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