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24 Feb 2015
NZD/USD: another leg towards 0.7595 cannot be ruled out yet – UOB Group
FXStreet (Barcelona) - Analysts at UOB Group, share the technical outlook for NZD/USD, noting that another move towards 0.7595 cannot be ruled out yet for the pair till the 0.7400 support stands.
Key Quotes
“While upward momentum is waning quickly, only a break below 0.7400 would indicate that the current bullish NZD phase has ended. Otherwise, another leg towards 0.7595 cannot be ruled out just yet.”
“That said, 0.7595 is a very strong resistance and at this stage, a sustained move above this level is not expected.”
“Support: 0.7450, 0.7400”
“Resistance: 0.7595, 0.7650”
Key Quotes
“While upward momentum is waning quickly, only a break below 0.7400 would indicate that the current bullish NZD phase has ended. Otherwise, another leg towards 0.7595 cannot be ruled out just yet.”
“That said, 0.7595 is a very strong resistance and at this stage, a sustained move above this level is not expected.”
“Support: 0.7450, 0.7400”
“Resistance: 0.7595, 0.7650”