17 Feb 2015
Technical outlook for AUD/USD and NZD/USD – UOB Group
FXStreet (Barcelona) - The Research Team at UOB Group gives the technical outlook for AUD/USD and NZD/USD for the week ahead, expecting the former to range-trade and the latter to strengthen towards 0.7605.
Key Quotes
“AUD/USD: The recent expectation for a move below 0.7620 is proven wrong with AUD moving back above the key shortterm level at 0.7790 last Friday.”
“We view the current movement as part of a neutral sideway consolidation range and expect this pair to trade between 0.7700 and 0.7920 for this week.”
“Support: 0.7700, 0.7620”
“Resistance: 0.7840, 0.7920”
“NZD/USD: The upward momentum continues to improve and the clear break above the short-term key resistance at 0.7465 suggests further NZD strength this week.”
“Overbought short-term conditions may lead to a pull-back first but unless there is a break below the key support at 0.7340, we expect a move towards 0.7605.”
“Support: 0.7400, 0.7340”
“Resistance: 0.7550, 0.7605”
Key Quotes
“AUD/USD: The recent expectation for a move below 0.7620 is proven wrong with AUD moving back above the key shortterm level at 0.7790 last Friday.”
“We view the current movement as part of a neutral sideway consolidation range and expect this pair to trade between 0.7700 and 0.7920 for this week.”
“Support: 0.7700, 0.7620”
“Resistance: 0.7840, 0.7920”
“NZD/USD: The upward momentum continues to improve and the clear break above the short-term key resistance at 0.7465 suggests further NZD strength this week.”
“Overbought short-term conditions may lead to a pull-back first but unless there is a break below the key support at 0.7340, we expect a move towards 0.7605.”
“Support: 0.7400, 0.7340”
“Resistance: 0.7550, 0.7605”