NZD/USD pair is currently trading at 0.6817, having printed lows below the 50-day moving average (MA) of 0.6802 yesterday. Notably, the pair is lacking clear directional bias since early December, according to technical charts. Daily line chart As seen above, the pair is trapped in a narrowing price range since Dec. 4. A break above the upper edge of the triangle, currently at 0.6909, would signal a resumption of the rally from the October low of 0.6424 and could yield a rally to the psychological hurdle of 0.70. A violation of the lower edge, currently at 0.6769, could yield a pullback to 0.6650-0.66. It is worth noting that a prolonged period of consolidation often paves way for a violent move. So, the pair may witness a near 90-degree move post-breakout or breakdown. Trend: Neutral 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 Australia: Q4 GDP likely to print soft figure of 0.2% – ANZ FX Street 4 years NZD/USD pair is currently trading at 0.6817, having printed lows below the 50-day moving average (MA) of 0.6802 yesterday. Notably, the pair is lacking clear directional bias since early December, according to technical charts. Daily line chart As seen above, the pair is trapped in a narrowing price range since Dec. 4. A break above the upper edge of the triangle, currently at 0.6909, would signal a resumption of the rally from the October low of 0.6424 and could yield a rally to the psychological hurdle of 0.70. A violation of the lower edge, currently at 0.6769,… 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.
