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Nov 01 - 05:00 PM
NZD/USD: Looking For A Break 0.6450/0.6500 To Target Resistance Around 0.6650/70 - NAB
First appeared on eFXplus on Nov 01 - 11:35 AM

NAB discusses NZD/USD technical outlook and flags a scope for a bullish breakout targeting 0.6650/70.

"The interim uptrend is yet to break the downtrend structure in play since Q4 2018. This requires a break above 0.6451. Such a break will expose 0.6480 / 0.6500 resistance, above which the MT uptrend should prove its sustainability," NAB notes. 

"We anticipate a test of key resistance levels in the 0.64500/00 range. A break should set up a test of trend channel resistance around 0.6650/70," NAB adds. 

NAB Research/Market Commentary


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