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Oct 08 - 01:24 PM
NZD/USD: Risk Of Strong Recovery Above 0.6350; Negate On A Break Of 0.6255 - UOB
First appeared on eFXplus on Oct 08 - 11:30 AM

UOB Research discusses NZD/USD technical outlook and flags a scope for a sustained recovery above 0.6350 against a break below 0.6255.

"Risk for a strong and sustained recovery has increased. Despite the relatively rapid retreat yesterday, the underlying tone in NZD still appears to be positive. We continue to see chance for a strong and sustained recovery above 0.6350," UOB notes.

"However, a break of 0.6255 (no change in ‘strong support’ level) would indicate that NZD is still trading sideways within a 0.6225/0.6350 range," UOB adds. 

Source:
UOB Research/Market Commentary

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