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NZD/USD: a short term top in place - UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 23, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Guatemala) - Analysts at UOB Group explained that they have highlighted the increasing risk of a short-term top in the past few updates in NZD/USD.

    Key Quotes:

    "The break below 0.6745 yesterday finally confirmed that."

    "The current movement is viewed as a corrective pull-back that has room to extend lower to 0.6680 where a break would shift the focus to last week’s low near 0.6620. Strong resistance is at 0.6795 ahead of the key level of 0.6855."
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