NZD/USD has backed off from the session high of 0.7196 to trade near 0.7180. That level is currently housing the upper end of the falling channel identified by trendlines connecting Jan. 6 and Jan. 14 highs and Jan. 11 and Jan. 18 lows. A close above 0.7180 would confirm a breakout and validate the 14-day Relative Strength Index’s upside break of descending trendline, paving the way for a re-test of the Jan. 6 high of 0.7315. However, a potential failure to take out the channel hurdle, if followed by a move below 0.7165 (session low), will likely yield a drop to 0.71. Daily chart Trend: Teasing bull breakout Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next PBOC sets yuan reference rate at 6.4696 FX Street 2 years NZD/USD has backed off from the session high of 0.7196 to trade near 0.7180. That level is currently housing the upper end of the falling channel identified by trendlines connecting Jan. 6 and Jan. 14 highs and Jan. 11 and Jan. 18 lows. A close above 0.7180 would confirm a breakout and validate the 14-day Relative Strength Index's upside break of descending trendline, paving the way for a re-test of the Jan. 6 high of 0.7315. However, a potential failure to take out the channel hurdle, if followed by a move below 0.7165 (session low), will likely yield a drop… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
