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Jan 10 - 09:48 AM
NZD/USD: A Period Of Consolidation Amid A Sustainable M/T Uptrend; Weekly Close Key - NAB
First appeared on eFXplus on Jan 10 - 08:30 AM

NAB discusses NZD/USD technical outlook and maintains a medium-term bullish bias.

"While price remains above the broken downtrend channel, currently 0.6575/85, the MT uptrend remains firmly in play. The weekly RSI broke above its two-year downtrend in Q4 2019, confirming the most positive MT momentum shift in two years. Comprehensive positive MT / LT momentum bias," NAB notes. 

"While weekly closes remain above the 2019 downtrend channel at 0.6575/85 in the coming weeks we anticipate a test of 2019 highs above 0.6925," NAB adds. 

Source:
NAB Research/Market Commentary

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