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NZDUSD SIGNAL 25 MARCH : NZDUSD Price Analysis: Bulls attack 0.6990 hurdle inside weekly rising channel

NZDUSD SIGNAL

NZDUSD SIGNAL 25 MARCH : NZDUSD Price Analysis: Bulls attack 0.6990 hurdle inside weekly rising channel

NZDUSD pokes weekly high inside a bullish chart formation.

Firmer RSI, sustained trading beyond the key HMAs keep buyers hopeful.

Channel’s resistance, November 2021 peak will challenge further upside.

NZDUSD SIGNAL : NZDUSD hovers around weekly top close to 0.6990, easing to 0.6980 heading into Friday’s European session.

Even so, the kiwi pair remains firmer inside a one-week-old ascending trend channel bullish formation.

That said, the pair’s successful trading above the 200 and 100 HMAs join firmer RSI, not overbought, to keep buyers hopeful of crossing the 0.6990 immediate hurdle.

Following that, the 0.7000 threshold and upper line of the stated channel near 0.7030 will lure the NZD/USD bulls.

Although the RSI is likely to turn overbought by reaching 0.7030, any further upside will be challenged by the mid-November 2021 peak surrounding 0.7080.

Alternatively, pullback remains elusive until the quote stay above the support line of the aforementioned channel, near 0.6950.

Also acting as the downside filter is the 100-HMA and 200-HMA level, respectively around 0.6935 and 0.6885.

NZDUSD SIGNAL : Even if the NZD/USD bears conquer the 200-HMA support, the weekly low of 0.6864 will act as an extra filter to the south.

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FIRST CAPITALS brand is authorized and regulated in various jurisdictions.

First Capitals Limited (www.First Capitals.com/eu) is regulated by the Cyprus Securities and Exchange Commission with CIF license number 185/12, licensed by the Financial Sector Conduct Authority (FSCA) of South Africa, with FSP No. 46614. The company is also registered with the Financial Conduct Authority of the UK with number 600475.

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Exinity Limited is a member of Financial Commission, an international organization engaged in a resolution of disputes within the financial services industry in the Forex market.

Risk Warning: Trading Forex and Leveraged Financial Instruments involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Trading non-leveraged products such as stocks also involves risk as the value of a stock can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. It is the responsibility of the Client to ascertain whether he/she is permitted to use the services of the FIRST CAPITALS brand based on the legal requirements in his/her country of residence.  Please read FIRST CAPITALS’s full Risk Disclosure.

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