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Apr 09 - 12:55 PM

NZD/USD: Tech Setup Favors A Squeeze Lower Towards 0.6942 Ahead Of 0.6898 - Citi

By eFXdata  —  Apr 09 - 10:45 AM

Citi discusses NZD/USD technical outlook and sees a scope for a decline towards 0.6898 in the near-term.

"NZDUSD completed an evening star formation after inching higher this week. The formation suggests that NZDUSD should squeeze lower towards a pivotal support range at 0.6942-0.6970 in the near term," Citi notes.

"If this range were to give away, we would have the 200 day MA at 0.6898 as the next layer of support, which is the target from the 55-200 day MA set up that was completed early March," Citi adds. 

Citi Research/Market Commentary


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