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Thomson Reuters
Feb 28 - 05:00 PM
NZD/USD: N-Term Support At 0.6760/90, M-Term Support At 0.6680/00 - NAB
First appeared on eFXplus on Feb 28 - 03:00 PM

NAB discusses NZD/USD technical outlook and flags the key support levels in the near- and medium-term.

"Price is yet to break its interim uptrend structure (higher lows / higher highs) while the mid-February low of 0.6720 holds. A new high has not been achieved since early February. Near term support is found at 0.6760/90 (50/100 day MA’s / daily cloud)," NAB notes. 

"Bearish weekly reversal completed three weeks ago failed to produce any negative follow through. Almost fully reversed / neutralised at current levels. Multi-week range is likely to remain capped at 0.6940/70. MT trend support at 0.6680/00. Weekly close above 0.6970 will imply that the MT uptrend is again underway," NAB adds. 

Source:
NAB Research/Market Commentary

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