NZD/USD Daily Technical Analysis | 7 November 2017
2017-11-07 10:01 am | Resource: Technical Analysis Section | No Views : 155
The pair failed for the third time in a row to breach the 0.6950 level, so be cautious while trading the pair until tomorrow's interest rate decision.
RSI 14 broke the bullish trend line during the Asian session and the index did not confirm the break so far.
It is expected that if NZD crosses against USD, the level of 0.6950 might target 0.7120 on the other side in case, a break of 0.6879 could target the pair at 0.6751.
Support: 0.6879- 0.6819 - 0.6751
Resistance: 0.6950- 0.7007 - 0.7120
The pound weakened against major currencies in the European session on Monday, amid renewed uncertainty over Brexit, with officials from the UK and the European Union saying at the weekend that more work was needed to secure the Brexit agreement. After intense talks in Brussels, the EU's chief negotiator, Michel Barnier, said there was still a "big gap" on tariff arrangements. The pound traded in a negative territory against…
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