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NZD/USD Daily Technical Analysis | 24 January 2018

2018-01-24 09:26 am | Resource: Technical Analysis Section | No Views : 304

NZD/USD breached the 0.7342 resistance area during yesterday's trading and managed to retest the test so far, so the pair is still rising until it reached 0.7363, the highest level since August.

NZD/USD Daily Technical Analysis | 24 January 2018

Currently, the pair is trading in a bullish direction as it is trading within the bullish wedge, and the SMA 20 is bullish and is forming a support area.
The RSI is still trading in a major and bullish upward direction so far, this trend still suffers from weakness in the bulls.
It is expected that if the New Zealand currency crosses against the US currency, 0.7364 might target the 0.7416 level on the other side. If the 0.7338 is breached, the pair might target the 0.7244 level.
Support: 0.7342 - 0.7261 - 0.7151
Resistance: 0.7416- 0.7454-77484
Trend: Up


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