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NZD/USD Daily Technical Analysis | 26 January 2018

2018-01-26 11:27 am | Resource: Technical Analysis Section | No Views : 305

During yesterday's trading, NZD/USD breached the support zone of 0.7342 and broke the lower limit of Andrew's trough and continued to fall until it approached the ascending trend line area that started to bounce back to break the secondary downtrend line.

NZD/USD Daily Technical Analysis | 26 January 2018

The pair moved again to trade in an uptrend formation and the SMA 20 is neutral.
RSI 14 broke through the bearish trend line during early morning trading, which supports bulls in the pair.
It is expected that if the New Zealand currency crosses against the US currency, the 0.7384 level might target the 0.7435 level on the other side, in case of a break of 0.7327, the pair might target 0.7266.
Support: 0.7342 - 0.7261 - 0.7151
Resistance: 0.7416- 0.7454-77484
Trend: Up

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