13 Feb 2015
Technical outlook for AUD/USD and NZD/USD – UOB Group
FXStreet (Barcelona) - Analysts at UOB group share the technical outlook for AUD/USD and NZD/USD.
Key Quotes
“AUD/USD: The strong rebound from the low of 0.7649 does not bode well for our current bearish AUD view.”
“However, the current price action suggests a period of short-term sideway consolidation and as long as the trailing-stop at 0.7790 is intact, further AUD weakness cannot be ruled out just yet.”
“NZD/USD: The breach of the key level at 0.7465 yesterday suggests increasing risk of a sustained NZD up-move from here. However, we would shift to a bullish stance only upon a daily close above this level.”
“In the meanwhile, the short-term pressure is clearly on the upside and only a move back below 0.7370 would indicate that the upside pressure has eased.”
“A sustained move above 0.7465 would signal the start of a bullish phase towards 0.7600.”
Key Quotes
“AUD/USD: The strong rebound from the low of 0.7649 does not bode well for our current bearish AUD view.”
“However, the current price action suggests a period of short-term sideway consolidation and as long as the trailing-stop at 0.7790 is intact, further AUD weakness cannot be ruled out just yet.”
“NZD/USD: The breach of the key level at 0.7465 yesterday suggests increasing risk of a sustained NZD up-move from here. However, we would shift to a bullish stance only upon a daily close above this level.”
“In the meanwhile, the short-term pressure is clearly on the upside and only a move back below 0.7370 would indicate that the upside pressure has eased.”
“A sustained move above 0.7465 would signal the start of a bullish phase towards 0.7600.”