- Analytics
- News and Tools
- Market News
- NZD/USD: Further consolidation is likely - Credit Suisse
NZD/USD: Further consolidation is likely - Credit Suisse
FXStreet notes that NZD/USD has held above the potential uptrend from August at 0.6521 to reinforce the view of the Credit Suisse analyst team of further sideways trading. Resistance moves initially to 0.6601 while support is seen at 0.6568.
“NZD/USD corrective weakness has come to a halt for a rebound higher just ahead of the potential uptrend from August, currently at 0.6521. This reinforces the view that we could see further sideways trading before an eventual resumption of the core bull trend, with resistance seen initially at 0.6601, ahead of 0.6657/58, where we would expect to see a pause at first.”
“Removal of 0.6657/58 would subsequently open the door to the cluster of resistances at 0.6778/6806 – the recent and current year highs as well as the 78.6% retracement of the December 2018/March 2020 fall – where we would expect to see a more concerted effort to cap at first.”
“Support moves to 0.6568, then 0.6547/40, beneath which would see a move back to 0.6521/12.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
