Wed, Jan 20, 2021 @ 22:26 GMT
Home Contributors Technical Analysis NZD/USD Analysis: Could Continue To Edge Up

NZD/USD Analysis: Could Continue To Edge Up

The New Zealand Dollar soared by 81 points or 1.17% against the US Dollar on Tuesday. The 50– hour simple moving average provided support for the currency pair during yesterday’s trading session.

All things being equal, the exchange rate could continue to edge up during the following trading session. The possible target for bullish traders would be near the weekly R2 at 0.7014.

However, if the currency exchange rate breaks a support line formed by the 50– hour SMA at 0.6959, the next target for bears would be at the 0.6920 level.

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This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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