10 Mar 2015
SEB: NZD/USD headed towards 0.7177 next – eFXnews
FXStreet (Barcelona) - The eFXnews Team notes SEB views that NZD/USD break below 0.7313 sets the tone for a move towards 0.7177.
Key Quotes
“Violation of a 'B-wave low' at 0.7313 sets a bearish tone for 0.7177 which is the Feb low point.”
“A Mar'11 reaction low of 0.7125 also lies within reach without violating the lower end medium-term (Jul'14-Mar'15) trend-channel (which allows for 0.7000 without any excess).”
“Sellers should however not jump the gun since the intraday stretch to the downside is near at 0.7280. Better use a fading intraday bounce to sell into - if being short-term bearish that is.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“Violation of a 'B-wave low' at 0.7313 sets a bearish tone for 0.7177 which is the Feb low point.”
“A Mar'11 reaction low of 0.7125 also lies within reach without violating the lower end medium-term (Jul'14-Mar'15) trend-channel (which allows for 0.7000 without any excess).”
“Sellers should however not jump the gun since the intraday stretch to the downside is near at 0.7280. Better use a fading intraday bounce to sell into - if being short-term bearish that is.”
This content has been provided under specific arrangement with eFXnews.