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Technical Checks For NZD/USD, EUR/NZD & AUD/NZD: 05.01.2018

NZD/USD

Considering the NZDUSD’s sustained trading above 200-day SMA, it seems that the pair is capable enough to confront the downward slanting trend-line, stretched since late-July, at 0.7200 now. However, overbought RSI might trigger the pair’s pullback around then, failing to which can further propel the quote towards 0.7245 and 0.7275 resistances. Should prices continue rising after surpassing 0.7275, the 0.7300 and the 0.7370 are likely landmarks that can be targeted. Meanwhile, the 0.7130, the 200-day SMA level of 0.7100 and the 0.7060, comprising 100-day SMA, can entertain sellers during the pair’s pullback. Given the profit-booking pattern drags the pair below 0.7060 on a daily closing basis, the 0.7025 and the 0.6975 can reappear on the chart.

EUR/NZD

EURNZD’s inability to clear the 50-day SMA beyond D1 close presently fetches the pair in direction to 1.6780 trend-line support, breaking which it can rest on the 100-day SMA level of 1.6740. If at all the pair drops beneath 1.6740, chances of its plunge to the 1.6630 and then to the 1.6550 can’t be denied. Alternatively, the 1.6900, the 1.6955 and the 50-day SMA level of 1.7000 could offer nearby resistances to the pair before it can aim for the strong resistance-region around 1.7050-70. Assuming buyers’ capacity to conquer the 1.7070, the 1.7140, the 1.7210 and the 1.7210 are expected consecutive levels that should be observed carefully.

AUD/NZD

Alike EURNZD, the AUDNZD also failed to extend its pullback beyond 50-day SMA and is likely declining towards the 1.0870 trend-line support but the 1.0980 might offer intermediate halt during the pair’s south-run. Should the pair keep trading down after 1.0870, the 200-day SMA level of 1.0830 and the 1.0800 round-figure may appear in Bears’ radars to target. On the contrary, the 1.1050, the 50-day SMA level of 1.1030 and the 1.1100 could gain traders’ attention if the pair reverses from current levels; though, the 1.1135-40 horizontal-area might confine its additional north-run. If at all the 1.1140 is broke, the pair could escalate its advances to 1.1180 and then to the 1.1225 resistance ahead of aiming the October high of 1.1290.

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Cheers and Safe Trading,
Anil Panchal

This article was originally posted on FX Empire

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