NZD/USD Daily Technical Analysis | 7 February 2018
2018-02-07 08:06 am | Resource: Technical Analysis Section | No Views : 268
Our view is neutral until the break is confirmed or the pair completes its high by breaching the resistance of 0.7342, and the simple moving average 20 is still neutral.
RSI 14 broke the minor bullish trend line during the Asian session and is currently trading in a major bullish direction.
It is expected that if the New Zealand currency crosses against the US currency 0.7303 levels may target 0.7220 on the other side, if breaching 0.7350 the pair might target the 0.7382 level.
Support: 0.7261- 0.7220 - 0.7151
Resistance: 0.7342 - 0.7401 - 0.7454
The dollar traded lower against the currencies as traders were also wary of looking for riskier assets awaiting developments on the trade front. The Fed cut its target overnight rate by a quarter percentage point on Wednesday, to a level of 1.75% to 2.0%, to offset slowing global growth and the risks partly associated with President Donald Trump's trade battles with China. This was the second Fed rate cut this…
- Pound Falls and Bank of England Warns of Brexit Postponement 12:02 pm2019-09-19
- Pound is retreating after Juncker's comments of disagreement and UK inflation data 11:18 am2019-09-18
- Dollar index stabilized against currencies ahead of Fed meeting 01:16 pm2019-09-17
- Dollar rises against major currencies after attacks on Aramco 01:47 pm2019-09-16
- Pound Sterling rises against its major as Britain exits Europe 01:30 pm2019-09-13
- Euro against major falls after European Central Bank rate cut 01:12 pm2019-09-12
- Dollar Rises, Yen and Franc Slump as Risk Appetite Rises 12:17 pm2019-09-11
- pound fell against the major currencies and the expectation of the Brexit 12:59 pm2019-09-10
- pound jumps to a 6-week high after Boris Johnson's remarks 11:41 am2019-09-09