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Derived real-time data in partnership with:
Thomson Reuters
May 07 - 11:00 PM
NZD/USD - Strong Close Would End Stalled Downtrend
First appeared on eFXplus on May 07 - 08:40 PM
  • +0.1% in Asia, as USD trades softer early - closed -0.1% - inside day
  • Neutral momentum studies, 10 & 20 DMAs trend south, net bearish setup
  • Downtrend has stalled in the last week - bears need progress soon
  • Close above falling under pressure 0.7036 10 DMA to end downside bias
  • 0.6954/62 late December base is initial significant support
  • Earlier 0.7010 low & 0.7036 10 DMA initial support/resistance

nz may 8 Click here

Source:
Thomson Reuters IFR Markets

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