NZD/USD reversed from support area

NZD/USD reversed from support area

  • NZD/USD reversed from support area
  • Next buy target - 0.7180

 NZD/USD today reversed up from the support area lying between the lower daily Bollinger Band, 61.8% Fibonacci correction of the upward impulse (1) from November and the strong round support level 0.70000 (former resistance level from December). Given the oversold daily Stochastic - NZD/USD is expected to rise toward the next buy target at next resistance level 0.7180.

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This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

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