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Jul 08 - 06:55 PM

NZD/USD: A Move Below 0.6923 Would Confirm A Broader Trend Change - Credit Suisse

By eFXdata  —  Jul 08 - 04:00 PM

Credit Suisse discusses NZD/USD technical outlook and highlights the importance of the 0.6923 level for near-term directional bias.

"A move below the 2021 lows at .6945/23 would confirm a broader trend change, opening up .6875/61 next, with the next initial support then seen at .6810/00," CS notes. 

"Key resistance is seen at .7115/30, which is the “neckline” to the previously highlighted short -term top, as well as a key retracement level, which we look to hold if reached. Above here the next level is seen at .7155 /61, above which would turn the short -term risks back higher for a move to .7244/58," CS adds.

Source:
Credit Suisse Research/Market Commentary

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