NZD/USD: A pause below 0.6296/6304 is likely to persist for now – Credit Suisse NZDUSD Banks
“NZD/USD has seen a tentative rejection of major resistance at the 200DMA and the trendline from June at 0.6296/6304. With this rejection in place and daily RSI now again hovering close to overbought levels, we think another pause is likely to unfold. That said, should a break above .here be seen and a break below the 200DMA in the DXY also take place, this would be seen to signal further medium-term strength, with next key resistance seen at the August highs at 0.6456/68.
“Near-term support is seen at 0.6162/58 and then at the 13-Day Exponential Average at 0.6135, though only below the recent lows at 0.6062/60 would bring more near-term stability.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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