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NZD/USD Daily Technical Analysis | 7 November 2017

2017-11-07 10:01 am | Resource: Technical Analysis Section | No Views : 155

NZD/USD is trading in a bullish direction under the hourly frame and the SMA 20 represents a support level for the pair.

NZD/USD Daily Technical Analysis | 7 November 2017

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
Trend: Up

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