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NZD/USD Daily Technical Analysis | 6 February 2018

2018-02-06 07:52 am | Resource: Technical Analysis Section | No Views : 299

Our neutral view of NZD/USD as a result of the lack of confirmation of the breach of the bearish trend line which occurred during the Asian session interval hour.

NZD/USD Daily Technical Analysis | 6 February 2018

The pair failed to retest the broken trend line and the 20 SMA is neutral.
The RSI 14, unchanged from yesterday's report, is still trading in a major bullish direction while the index is attempting to breach the minor descending trend line.
It is expected that if the New Zealand currency crosses against the US currency, 0.7256 might target 0.7220, but if breaching 0.7302, the pair might target 0.7353.
Support: 0.7261- 0.7220 - 0.7151
Resistance: 0.7342 - 0.7401 - 0.7454
Trend: Down


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