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20 May 2015
NZD/USD: technicals suggest remaining short – Varengold
FXStreet (Barcelona) - The Varengold Bank Research Team notes NZD/USD technicals favour the downside for the pair, but cues from US fundamental data should be considered before positioning for the pair.
Key Quotes
“The NZDUSD is short same as other peers against the greenback since last year. After the small correction in 2015 the major pair maybe going to break through to last low’s. All indicators are showing strongly short. Speculation on the short side should be considering the next support level. Also important fundamental data from the U.S. Fed should be considered.”
“Support Levels around 0.7315, 0.7188”
“Resistance Levels around 0.7565, 0.7745”
Key Quotes
“The NZDUSD is short same as other peers against the greenback since last year. After the small correction in 2015 the major pair maybe going to break through to last low’s. All indicators are showing strongly short. Speculation on the short side should be considering the next support level. Also important fundamental data from the U.S. Fed should be considered.”
“Support Levels around 0.7315, 0.7188”
“Resistance Levels around 0.7565, 0.7745”