17 Jun 2015
NZD/USD: Bulls need a break above 0.7090 - UOB
FXStreet (Guatemala) - Analysts at UOB Group noted the conditions surrounding NZD/USD which a very bearish.
Key Quotes:
"While NZD/USD continues to trade sideways, it is unlikely that we have seen a low for this pair. That said, the recent weakness is over-extended and any further down-move from here is likely limited to 0.6900."
"Only a move back above 0.7090 would indicate that a short-term low is in place (0.7050 is already a strong short-term resistance). "
Key Quotes:
"While NZD/USD continues to trade sideways, it is unlikely that we have seen a low for this pair. That said, the recent weakness is over-extended and any further down-move from here is likely limited to 0.6900."
"Only a move back above 0.7090 would indicate that a short-term low is in place (0.7050 is already a strong short-term resistance). "