NZD/USD: perspective switches to neutral – UOB

FXStreet – The perspective for the currency pair changes in the short term bearish to neutral, declared the FX strategists of the Japanese UOB Group.

Important Quotes:

The new Zealand Dollar (NZD) jumped to a High of 0,6916 – could the level but do not hold, and the gains melted away once again. Despite the rapid pullback, a Retest of the resistance area is 0,6915/20 in the air. A Crossing of the levels is not expected in this Phase. Supports lie at 0,6870 and 0,6850.

The jump over the resistance at 0,6890 indicates that the bullish Phase has come to an end. The NZD is likely to be most likely in a Range between 0,6850/0,6950. The risks are currently on the top page.

** FXStreet News Editorial, FXStreet**

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