NZD/USD: Break above 0.6203/05 to expose the 200DMA at 0.6302 – Credit Suisse NZDUSD Banks
NZD/USD is testing the top of its recent range at 0.6203/05. A close above there would expose the 200-day Moving Average at 0.6302, analysts at Credit Suisse report.“We continue to expect an eventual break above the last week’s highs at 0.6203/05, above which would open the door to the 200 DMA at 0.6302. Should a convincing break above here be achieved, this would suggest further medium-term strength, with the next firm resistance seen at the August highs at 0.6456/68.
“Immediate support remains seen at the 13-Day Exponential Moving Average and recent lows at 0.6069/60, but we look for support at 0.6000/5983 to try to prevent any sharper move lower to avoid a lengthier consolidation.”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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