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NZD/USD Daily Technical Analysis | 31 January 2018

2018-01-31 08:27 am | Resource: Technical Analysis Section | No Views : 256

After breaking the last Friday's low, NZD/USD rallied to break through 0.7372 and breached the 60-minute downtrend line, confirming that the trend line broke through 0.7353.

NZD/USD Daily Technical Analysis | 31 January 2018

Currently, the pair is trading in a minor upside direction and the 20 SMA is pointing upwards.
RSI 14 broke through the bearish trend line during the European session and was confirmed.
It is expected that if the New Zealand currency crosses against the US currency, the levels of 0.7401 may target 0.7454, while in case of a break of 0.7323, the pair might target 0.7243.
Support: 0.7342 - 0.7261 - 0.7151
Resistance: 0.7401- 0.7454- 0.7484
Trend: Up

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