29 Jan 2015
NZD/USD might target 0.7115 – UOB
FXStreet (Barcelona) - Analysts at UOB Group maintain their bearish outlook for NZD/USD, anticipating the pair to head towards 0.7115 levels.
Key Quotes
“RBNZ’s decision to shift to a neutral rate policy early this morning sent NZD tumbling to a low of 0.7314. The strong impulsive down-move suggests further NZD weakness is likely in the coming weeks.”
“Looking at the longer-term chart, the next significant support is at the 2011 low of 0.7115.”
“We maintain our bearish call for this pair with a new target of 0.7115 and do not expect a move back above 0.7495 (previous trailing-stop at 0.7585).”
Key Quotes
“RBNZ’s decision to shift to a neutral rate policy early this morning sent NZD tumbling to a low of 0.7314. The strong impulsive down-move suggests further NZD weakness is likely in the coming weeks.”
“Looking at the longer-term chart, the next significant support is at the 2011 low of 0.7115.”
“We maintain our bearish call for this pair with a new target of 0.7115 and do not expect a move back above 0.7495 (previous trailing-stop at 0.7585).”