Sun, Jan 24, 2021 @ 14:40 GMT
Home Contributors Technical Analysis NZD/USD Could Continue To Edge Up

NZD/USD Could Continue To Edge Up

The 50– hour simple moving average has been guiding the New Zealand higher against the US Dollar since November 24. The currency pair made about 30 points move during Friday’s trading session.

Everything being equal, the exchange rate is likely to continue to trend higher during the following trading session. The potential target for bullish traders would be near the weekly resistance level at 0.7070.

However, if the currency exchange rate breaks the 50– hour SMA support level at 0.7016, a decline towards the weekly pivot point at 0.6983 could be expected within this session.

Dukascopy Swiss FX Group
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.

Featured Analysis

Learn Forex Trading