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.

For bank trade ideas, check out eFX Plus.

ForexLive
By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose