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NZD/USD Daily Technical Analysis | 1 November 2017

2017-11-01 08:14 am | Resource: Technical Analysis Section | No Views : 164

NZD/USD breached the downtrend line on the hourly interval after the US session ended yesterday and the pair also breached the 0.6869 level to test the strength of the buyers and confirm the bullish trend.

NZD/USD Daily Technical Analysis | 1 November 2017

The RSI 14 is still trading in a major bullish direction and breached yesterday the minor descending trend line.
It is expected that if NZD crosses against USD, the level of 0.6911 might target 0.6980 on the other side in case of a break of 0.6879, the pair might target 0.6819.
Support: 0.6879- 0.6819 - 0.6751
Resistance: 0.6950- 0.7007 - 0.7120
Trend: Up
We caution to take caution during today's trading as a result of the release of US interest data on the US currency this evening, which may lead to strong movements as usual.

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