NZD/USD: N-Term Consolidation Ahead Of A Likely Break Above 0.7151 Targeting 0.7395 M-Term – Credit Suisse
What is the technical outlook for NZD/USD in the medium-term?
Here is their view, courtesy of eFXdata:
Credit Suisse discusses NZD/USD technical outlook and maintains a bullish bias over the medium-term.
“We might see another near-term consolidation phase over the next few days, prior to a resumption of the core bull trend. A clear and closing break above .7151 would ensure a direct continuation of the core bull trend, with resistance then seen at .7171 and then .7200, with a lack of meaningful medium-term resistance above here until .7395,” CS notes.
“Support moves to .7078, ahead of .7054. Removal of this area, whilst not our base case, can see a move back to .7013/00,” CS adds.
For lots more FX trades from major banks, sign up to eFXplus
By signing up for eFXplus via the link above, you are directly supporting Forex Crunch.