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Technical Analysis
Forex Market Commentary By TitanFX
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[QUOTE="titanfx, post: 129519, member: 33464"] [SIZE=6][B]NZD/USD – New Zealand Dollar Is Increasingly Bullish Vs USD[/B][/SIZE] [SIZE=5][B]Key Highlights [/B][/SIZE] · The New Zealand Dollar has formed a medium term bullish trend above 0.7100 against the US Dollar. · There are two important bullish trend lines with support at 0.7100 and 0.7030 formed on the 4-hours chart of NZD/USD. [SIZE=5][B]NZDUSD Technical Analysis[/B][/SIZE] The New Zealand Dollar after a long struggle below 0.7000 against the US Dollar gained traction. The NZD/USD pair is now trading well in the bullish zone above 0.7100. [IMG]https://titanfx.com/wp-content/uploads/2017/06/NZDUSD-Chart-06.07.2017-768x401.png[/IMG] The upside move gained pace once the pair broke a key resistance zone at 0.6950. It gave an opening to buyers to push the pair above 0.7000 and the 100 and 200 simple moving averages (H4). The pair even traded above the 0.7150 resistance and cleared an expanding triangle resistance at 0.7170. On the downside, there are two important bullish trend lines with support at 0.7100 and 0.7030 formed on the 4-hours chart. ------------------------------------------- [B][I]Posted by Aayush Jindal - 'Titan FX Currency Analyst'[/I][/B] [/QUOTE]
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