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Nov 25 - 01:24 PM
NZD/USD: Expecting Further Range Below 0.6450/80 / Above 0.6250/00 N-Term - NAB
First appeared on eFXplus on Nov 25 - 11:15 AM

NAB discusses NZD/USD technical outlook and expects further range trading in the near-term.

"The recent bearish reversal pattern completed after a failed break of multi-month highs at 0.6451, confirms that 0.6450/80 is a prominent resistance level. Inability to extend lower in the subsequent weeks confirms that the Q4 uptrend remains in play," NAB notes. 

"We anticipate further range trading below 0.6450/80 / above 0.6250/00 in the coming week. Ultimately we are biased to a break above 0.6450/80 that should renew the MT uptrend bias and target 0.6620/50," NAB adds. 

Source:
NAB Research/Market Commentary

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