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Thomson Reuters
May 02 - 09:48 PM
NZD/USD - 14 Days Of Lower Lows Keeps Downside Pressure On
First appeared on eFXplus on May 02 - 07:45 PM
  • Fraction firmer early - bargain hunting into yesterday's 0.2% fall
  • Data free today, Tokyo holiday, so AUD likely to lead intraday moves
  • AUD/NZD stalled @ 1.0712, 38.2% 2018 fall - 1.0680/1.0730 break directional
  • Momentum studies edge lower, 5, 10 & 20 DMAs trend south, bearish setup
  • 14 days of lower lows keeps pressure on - targets 0.6955/60 late Dec low
  • Close above falling 0.7072 10 DMA needed to undermine downside bias

nzd may 3 Click here

Source:
Thomson Reuters IFR Markets

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