Technical Analysis – NZDUSD back above 50-DMA as bias turns bullish
Posted on November 3, 2016 at 2:24 pm GMTNZDUSD broke above the key 0.73 level on Wednesday and has extended its gains to a fresh one-month high of 0.7328 today. The pair has been trading in an upward trending linear regression channel since January but prices fell to the lower channel in mid-October, indicating a weakening of the momentum. The current rally has taken prices above the 50-day moving average and close to the middle of the channel as the near-term bias has turned strongly bullish. RSI is [..]