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May 07 - 05:00 PM
NZD/USD: Impulsive Decline In April Targets A Move To 0.68 - NAB
First appeared on eFXplus on May 07 - 02:30 PM

NAB Research discusses NZD/USD technical outlook and flags a bearish signal targeting a move towards 0.68 over the coming weeks.

"The April failure completed the largest down month of 2018 and most aggressive rejection of the 50-month MA in this time. The month end close, at the bottom of a 360 pip monthly range, leaves us with no doubt about the sustainability of the MT downtrend.

Bounces have continued to fail below MT range highs at 0.7400/0.7550, shifting our focus back towards the bottom of the MT range around 0.6800," NAB argue. 

Source:
NAB Research/Market Commentary

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