NZD/USD struggles to justify upside break of one-week-old falling trend line despite upbeat RSI. Horizontal area since last Tuesday restricts immediate upside before 200-HMA. NZD/USD holds 0.7000, up 0.18% intraday around 0.7010 by the press time of early Tuesday. In doing so, the kiwi pair extend the upside break of a short-term falling resistance line, now support, towards a one-week-old hurdle. Given the upbeat RSI and sustained break of a descending trend line from March 18, NZD/USD is likely to cross an immediate horizontal resistance around 0.7020-25. However, the 200-HMA level of 0.7066 and the 0.7100 threshold can test the NZD/USD buyers targeting the previous week’s top surrounding 0.7185. Alternatively, 0.6970 can test the pullback moves before directing them to the multi-day lows, flashed last week, around 0.6940. Should NZD/USD bears keep the reins past-0.6940, November 12, 2020 top near 0.6915 and the 0.6900 round-figure will be the key ahead of highlighting September 2020 peak close to 0.6800. NZD/USD hourly chart Trend: Further recovery expected 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 Bitcoin funds scoop up $46 billion worth of BTC but Grayscale’s dominance declines FX Street 8 months NZD/USD struggles to justify upside break of one-week-old falling trend line despite upbeat RSI. Horizontal area since last Tuesday restricts immediate upside before 200-HMA. NZD/USD holds 0.7000, up 0.18% intraday around 0.7010 by the press time of early Tuesday. In doing so, the kiwi pair extend the upside break of a short-term falling resistance line, now support, towards a one-week-old hurdle. Given the upbeat RSI and sustained break of a descending trend line from March 18, NZD/USD is likely to cross an immediate horizontal resistance around 0.7020-25. However, the 200-HMA level of 0.7066 and the 0.7100 threshold can test the… Top 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.
