Technical Analysis

NZD/USD Erased The Morning Losses

Typography

The NZD/USD dropped further in the morning resuming the bearish momentum, but the bulls have struck back and have forced the rate to jump higher and to close the morning gap. The pair was almost to reach the sixth warning line (wl6), but now it could come back to retest the median line. Could reach also the 0.7000 psychological level, while a valid breakout above the median line will signal a further rebound.

Author: MultiBank Exchange Group Website: http://www.mexgroup.com
MultiBank Exchange Group
Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.
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