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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