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NZD/USD Daily Technical Analysis | 30 January 2018

2018-01-30 06:48 am | Resource: Technical Analysis Section | No Views : 264

Our neutral view of NZD/USD as a result of the lack of confirmation of the breach of the secondary descending trend line on the hourly interval.

NZD/USD Daily Technical Analysis | 30 January 2018

Overall, the pair is still trading in a major bullish direction and the SMA 20 is intertwined with the price movement and therefore the signal is neutral.
Relative Strength Index 14 breached the bearish trend line but without confirmation as well and the indicator shows weakness bulls currently.
It is expected that if the New Zealand currency crosses against the US currency, the 0.7342 level might target the 0.7401 level on the other side, if breaching 0.7374, the pair might target 0.7436.
Support: 0.7261- 0.7151 - 0.7120
Resistance: 0.7342 - 0.7401 - 0.7454
Trend: neutral

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