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NZD/USD Daily Technical Analysis | 7 February 2018

2018-02-07 08:06 am | Resource: Technical Analysis Section | No Views : 268

NZD/USD started to rebound from yesterday's Asian session at 0.7261 and continued to climb up to the start of the Australian session today and as the pair failed to breach the 0.7342 area it started to fall to break the rising trend line.

NZD/USD Daily Technical Analysis | 7 February 2018

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
Trend: neutral

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