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Jun 26 - 12:55 AM

NZD/USD: Consolidation Phase Intact N-Term Before Higher - Credit Suisse

By eFXdata  —  Jun 25 - 04:30 PM

Credit Suisse discusses NZD/USD technical outlook and adopts a neutral bias in the near-term.

"We look for the current rangebound environment to continue for now, however we eventually look for a break above .6554 and then the current June high at .6584. A sustained and closing break above here would reinforce thoughts of a broader change in trend to the upside, with resistance then seen at .6665," CS notes. 

"Support is around.6437, ahead of .6382/77, which ideally continues to hold. In contrast, a sustained close below here would now see a small top complete, with .6322/21 the next key support level to monitor," CS adds. 

Source:
Credit Suisse Research/Market Commentary

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