NZD/USD Daily Technical Analysis | 9 February 2018
2018-02-09 09:14 am | Resource: Technical Analysis Section | No Views : 284
The SMA 20 is neutral as a result of overlapping with the movement of the pair.
Relative Strength Index 14 We viewed it as neutral as trading between 50.98 and 42.15 areas.
It is expected that if the NZD crosses against the US currency, the levels of 0.7192 might target the level of 0.7120, while in case of a breach of 0.7240, the pair might target 0.7300.
Support: 0.7151- 0.7120 - 0.7050
Resistance: 0.7220 - 0.7261 - 0.7342
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…
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