NZD/USD Bulls Gradually Taking Further Control

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NZD/USD Bulls Gradually Taking Further Control

ByLCMS Traders FX Analysis Team

 SEP 10, 2021

NZD/USD Daily Forecast

NZD/USD is trading 0.48% higher to 0.7138 after having dropped below the 0.7100 mark earlier in the Asian session. The intraday resistance levels are at 0.7152 and 0.7184. The near-term support areas are at 0.71000 and 0.7177

The pair has repeatedly managed to climb above the 0.7100 mark and a couple of Doji formations around the recent low indicates the retreating bears. The SMA-14 is at 0.7056 while the SMA-50 support line is at 0.6998. The pair is considerably higher above the mid-Bollinger band and the RSI is at 52 with an upwards curve. The MACD is also above the middle line and favors the bulls. Following the intraday price pattern, the pair is likely to move higher which makes it ideal for buying entries using the following levels

Direction: Buy

Entry: 0.7115

Take Profit: 0.7160 – 0.7180

Stop-Loss: 0.7085

 

NZD/USD Bulls Gradually Taking Further Control

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