NZD/USD Daily Technical Analysis | 5 February 2018
2018-02-05 10:55 am | Resource: Technical Analysis Section | No Views : 288
Currently the pair is trading in a bearish direction and the simple moving average 20 crosses negatively with the broken bullish trend line, which adds strength to the sellers.
RSI 14 is trading in a major bullish direction and is currently trading in a minor bearish direction under formation (we do not recommend buying unless the secondary bearish trend breaks).
It is expected that if the New Zealand currency crosses against the US currency, the levels of 0.7275 could target 0.7243, while in the case of a breach of 0.7302, the pair might target 0.7355.
Support: 0.7261- 0.7220 - 0.7151
Resistance: 0.7342 - 0.7401 - 0.7454
The pound strengthened against its major counterparts in the European session on Friday, as fears over Brexit eased after a media report showed progress in the controversial Irish support clause. According to a poll, Britain is likely to leave the EU without an agreement regulating the process and future relationship, as 43.5% of senior financial officials polled by CNBC believe. The Democratic Party has agreed to soften its stance…
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