Explore eFXplus Derived Data That Drive Results
A Data Partner of:
Refinitiv
May 19 - 11:00 AM

NZD/USD: 0.6268/0.6180 Zone Likely To Continue To Cap N-Term - Credit Suisse

By eFXdata  —  May 18 - 03:15 PM

Credit Suisse discusses NZD/USD technical outlook and sees a scope for top and turn into the 0.6268/0.6180 zone.

"The rebound higher in NZDUSD has been capped by the key resistance area starting at .6180 and stretching up to .6268 and we continue to look for this to cap the recovery. Indeed, with a large bearish “triangle” continuation pattern already in place and a break of the long-term uptrend from 2001, we look for further weakness to unfold in due course," CS notes. 

"Support is seen at .5922/06, removal of which would reinforce the downside risks, with support seen thereafter at .5851/44 and eventually back at the low at .5470," CS adds. 

Source:
Credit Suisse Research/Market Commentary

Subscription

  • eFXplus
  • End-user license agreement (EULA)

About

  • About
  • Contact Us

Legal

  • Terms of Service
  • Privacy Policy
  • Disclaimer
© 2020 eFXdata · All Rights Reserved
!