NZD/USD in a period of consolidation but test of the highs coming - NAB

Author: Adam Button | Category: News

What to watch for in NZD/USD

What to watch for in NZD/USD

NAB discusses NZD/USD technical outlook and maintains a medium-term bullish bias.

"While price remains above the broken downtrend channel, currently 0.6575/85, the MT uptrend remains firmly in play. The weekly RSI broke above its two-year downtrend in Q4 2019, confirming the most positive MT momentum shift in two years. Comprehensive positive MT / LT momentum bias," NAB notes. 

"While weekly closes remain above the 2019 downtrend channel at 0.6575/85 in the coming weeks we anticipate a test of 2019 highs above 0.6925," NAB adds.

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