Technical analytics


The NZD/USD pair showed mixed trades on Wednesday. The NZD rallied and was able to reach 0.7430 where bulls lost momentum. The market became bearish after that sending the major to 0.7350 first. Sellers retook the level and continued their downward trajectory after that. The pair suffered more losses during the night and morning on Thursday. The NZD reached 0.7300 in the late European session. The resistance is at 0.7350, the support stands 0.7300.

As the most probable scenario, we consider further moving downwards towards the level at 0.7250.

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