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NZD/USD: minor reversal coming up? - UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 13, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Guatemala) - Analysts at UOB Group are expecting a short term pullback in NZD/USD.

    Key Quotes:

    "As pointed out last Friday, the current NZD strength appears to have scope to extend higher to 0.6740 (high of 0.6722 last Friday).

    While this level could still be tested within the next couple of days, short-term momentum is slowing down and this suggests that a corrective pull-back is imminent."

    However, only a move back below the stop-loss at 0.6620 would indicate that a short-term top is in place."
    For more information, read our latest forex news.
     

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