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GBPNZD Forex Technical Analysis Aug 22, 2017

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by , 08-23-2017 at 11:44 AM (402 Views)
      
   
GBPNZD has recently bounced off the top of its range at the 1.7900 major psychological level and is making its way to the bottom at 1.7400. If this holds as support, another bounce back to the resistance could take place.

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The 100 SMA is above the longer-term 200 SMA so the path of least resistance is to the upside, which means that the support is more likely to hold than to break. These moving averages could also hold as near-term inflection points.

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