NZDUSD–Stands at the support of the upward sloping trend line

02 February 2021

NZDUSD has been trading in a higher top higher bottom formation on the back of continued weakness in the dollar index. Currently it stands at the support of the upward sloping trend line suggesting it could rise from current levels. It would be prudent to say that the pair could rise further towards 0.7220 and 0.7250 while it sustains above 0.7090.

Prepared by
Technical Analysis Team

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