NZD/USD bullish above 0.6900 – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 30, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The stance for the Kiwi dollar remains bullish while NZD/USD trades above the 0.6900 handle.

    Key Quotes

    “NZD rallied strongly overnight and short-term indicators clearly suggest further upward pressure in the coming days”.

    “However, the current price action appears to be similar to those during the middle of this month where a strong 2-day rally fizzled out quickly”.

    “In other words, we are maintaining our neutral view for NZD but a clear break above the major and crucial 0.6900 resistance would be a strong indication that NZD would head much higher in the coming weeks”.

    “In the meanwhile, this pair is expected to remain underpinned with strong support at 0.6760”.
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