26 Mar 2015
Further NZD/USD strength expected – UOB
FXStreet (Barcelona) - Analysts at UOB Group mention that as long as 0.7500 support stays intact, further NZD strength might be expected in the coming days.
Key Quotes
“The deep pull-back from the high of 0.7698 two days ago has dented the short-term momentum but as long as the trailing stop-loss at 0.7500 is intact, further NZD strength is still expected in the coming days.”
“That said, 0.7698/0.7710 is a very strong resistance and a move to this level could be short-lived and may provoke a deeper pull-back.”
“On the downside, 0.7550 is a strong support ahead of 0.7500.”
Key Quotes
“The deep pull-back from the high of 0.7698 two days ago has dented the short-term momentum but as long as the trailing stop-loss at 0.7500 is intact, further NZD strength is still expected in the coming days.”
“That said, 0.7698/0.7710 is a very strong resistance and a move to this level could be short-lived and may provoke a deeper pull-back.”
“On the downside, 0.7550 is a strong support ahead of 0.7500.”