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NZD/USD Daily Technical Analysis | 5 February 2018

2018-02-05 10:55 am | Resource: Technical Analysis Section | No Views : 288

NZD/USD broke the trend line on the 60-minute time frame as sellers pressured the pair and the pair broke the 0.7331 area, indicating the bear's hold confirms the bearishness.

NZD/USD Daily Technical Analysis | 5 February 2018

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
Trend: Down


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